All Forum Posts by: Account Closed

Hi John,

We have a similar shower in our house, completely glassed in. The door has a 6" gap at the top to help it dry out, but I find that just isn't enough. I agree with @Mike F. that getting a door with a hinge that will allow it to swing both ways is the way to go. That's what we've got, and after the shower has been used, we just swing the door inwards, and the space is dry in no time.

Welcome to BP, Jaymes! It sounds like you've got a good plan. I'm curious as to what type of property your planning to buy with your budget? Even though Calgary is experiencing a major economic downturn, I have found that real estate hasn't quite caught up with the doom and gloom projections for the future. If you do decide to go the condo route, just be aware of hidden or unexpected costs like special assessments, which can really hurt your cash flow. Good luck to you!

Hi Cyril, I'm no expert, but I've spent many hours on this site and listening to the podcasts, and the general consensus seems to be not to worry too much about your buyer's list. If you find a good deal with enough "meat on the bone", you will not have a hard time getting rid of it.

I don't know how likely it is that you'll find your first deal in the next 30 days. I think it's likely dependent on how much money and time you want to put into marketing. If you are already working full time as a real estate agent to pay the bills, you might find a direct mail campaign to be the best use of your time. It costs more money than cold-calling or door-knocking, but if you can get a list of absentee owners (there's other lists available too, like probate lists) in the area you're targeting, your chances will go up exponentially.

BP has tons of posts on the forums about getting started wholesaling, as well as blog posts. Just use the search function at the top to find more information on the niche you are planning target. Good luck!

Just curious... what would you do with it? Turn it into something residential? Or try and market it to other groups?

Welcome Virgilio! One of the easiest ways to network with other real estate investors is to check out the Meetups website, and search "real estate". I live in a city of 1.2 million, and the are at least 6 different groups that meet in my area. Given the population density of the area you live, I'm sure you'll find a few in your area that are a good fit for you. Good luck!

Welcome, Irene! Real estate investing is a big world - ask lots of questions! The Ultimate Beginner's Guide is a great place to start. Consider listening to the podcasts too - so much can be learned from the experience of the guests that are featured. Good luck to you!

Thanks for sharing your numbers Sean. Your post is a wake-up call to those of contemplating doing something similar, or getting into the flip business. Calgary is the market that I want to be involved in because I live here, but at the moment, with the way the economy is going, I'm thinking twice about jumping in. I think it would be easy for someone inexperienced like me to end up working for nothing...or worse - going backwards.

We are just in the process of selling a small warehouse in Edmonton to a private investor, and we've agreed to split the cost of the realtor's fees off the sell price. Does anyone know how those fees are structured? Are they just like residential: 7% on the first 100k, 3% on the remainder? Appreciate any replies... we need to get this deal done!

Hi Sean,

Coincidentally, for the last 2 weeks I've been marketing the property we live on to builders and developers. Unfortunately, we aren't motivated sellers yet, as we've just started to work on this sale, and we're not in a hurry. But I thought I'd let you know because I'm trying to get the word out. It's over a 1/4 acre of land in Killarney on an R2 lot that is also sub-dividable. It's a giant pie-shaped lot at the end of a quiet cul-de-sac. Just thought I'd let you know in case you want to file that away for later. A couple of years ago, a developer took the mirror-image lot across the street, subdivided it, and built 2 stand-alone homes, both with detached 3 car garages off the alley, and back yard to spare - just to give you an idea of size.

Hi Bill,

Welcome to BP, it's an amazing place to learn all about REI. Do you know what area of REI you are considering getting involved in?

If you haven't yet, be sure to check out the podcast - I've learned more from that than from any other thing on the BP site/forum. It has so much great info.