Hi @Scott Gelinas and welcome to the forums! There's a ton of resources here that relates well to REI in Edmonton but I presume what you're after is market specific advice and information.
Although I don't have any skin in the game yet, I've been researching and learning about the Edmonton market for the last couple months so I can give you a short list of some of the free resources I've been tapping into to get myself started in the industry. Your profile notes you've been doing research on the topic so I'll make this point form so it's not too redundant for you. From what I can gather, the general process of flipping or BRRR is much more forgiving to new investors in the US because of several factors including higher inventory, court foreclosure processes, and relatively cheaper cost of both housing and financing. In short, for your interests, wholesaling sounds a whole lot more difficult in Canada than the US - although still very possible. I can see some people even on BP that are wholesalers in Edmonton - search the site for "edmonton" and see what comes up for people! If it's working for someone there must be a way for you to learn how.
Here's some resources outside of BP to tap into if you're unsure of where your next step in your Edmonton wholesaling career.
1. Check out the REIN Canada forums, the majority of their threads are open access and the discussions are very helpful on getting acquainted with the Alberta Market and how the energy sector and other unique factors are currently affecting Investors. The search function also could help you zero in on wholesaling - I've personally been reading up on student rentals. You could also consider joining REIN. From what I've heard they have incredible resources for new investors, although the membership fees are a common deterrant(why I haven't signed up yet).
2. Subscribe to some online newsletters to get to know the Alberta industry - I've been following the Canadian Real Estate Magazine and ATB Financials "The Owl" and they've been helpful getting my mind tuned in to the lingo and the general state of affairs.
3. Start to crunch some numbers of places in Edmonton using the BP calculator to get a sense of what are high and low values in the area. If you're going to knock on doors to find a motivated seller, it will be necessary to know these numbers inside and out for your target neighbourhood. I literally went on a realty site, searched "investment" and began to punch numbers. I think this is a helpful way to begin to understand what good numbers look like.
4. Go onto Meetup.com and check out some of the REI group meetings in edmonton. From what I've read, wholesalers make or break their jobs with how they manage their relationships with their buyers - so this would be a great way to start building your street cred. Maybe even come with a place you think is a deal, and regardless of whether it is, you'll show your commitment and willingness to learn.
5. Consider taking a local wholesaler out for coffee. If you've listened to the podcasts from wholesalers, you'll already know that these guys hustle hard to find deals. Driving for dollars, knocking on doors, direct mail, networking, we buy houses ads, and online lead generation websites. They put in the effort to find motivated sellers and get paid for their time and effort. I don't know if there is a "how to" cut and dried wholesaling package.
Wholesaling sounds like the first logical step to get started tomorrow with no money and not enough time for a flip, but from what I can tell unless you're able to put in the work over and over again to find good deals for buyers, it's a tough road in the Edmonton area at this point in the RE "cycle". Have you considered a JV partnership in edmonton or the surrounding area? Your current goals list getting your own investment property going so maybe this could be a better fit for your first step into the REI world.
I don't have a how to guide to wholesaling for you, but I hope the resources above can help you understand how you can deepen your understanding of the Alberta market. Please also take my suggestions with a grain of salt, I don't have any current investments and am learning about the industry just like you.
Best of luck to you Scott, I hope we cross paths in the future a few steps closer to our financial goals.
