All Forum Posts by: Ross McKenzie

Good Day. I'm newbie here on BP & in REI.

Please comment on suggestions for REI Website Template (especially if particularly suited to Canadian market).

Many thanks,

Wishing you a highly successful 2015.

Yes indeed, "Wholesaling" should not be taking too literally in Canada, (yet) - as the market is entirely different, but conceptually, it appears to be a valid process, (speaking from my inexperience) - yet of course, not nearly as easy as USA.

And yes indeed, the Lower Mainland is for people with deep pockets. Vancouver Island is half the price or lower.  But, (from my limited experience), the right to assignment of the contract is the key element to the Wholesaling contract and without which the process is illegal, and it is a clause that wholesalers include in any contract. The trick of course, (other than finding the deal in the first place), is to buy at a low enough price that we are still able to sell quickly at below market value.

The "finders fee" concept you mention is essentially what "Wholesaling" is all about, (to me).  I agree with you that the contract should be up front & honest, making it clear that our business is not extortion, but a service we provide to match buyers & sellers, and charging a fee for our service.

Something to keep in mind, in any business and every endeavor, is to not argue for limitations, (emphasize the reasons why something will not work), and instead focus on possibilities & opportunities.  Whether we think we can or cannot, we are correct.  We will always find evidence to support our convictions.

Thanks for clarity Jay.  You are of course correct; finding Motivated Sellers is the bottom line, no matter what the circumstances. And thanks for confirmation that the agent, (or becoming an agent) is the key ingredient in the success mix.

Good Day All, and Happy New Year. I'm a newbie REI entrepeneur on Salt Spring Island BC, Canada, soon to be moving to Victoria, or elsewhere on Vancouver Island, (as my job allows me to live anywhere in the world). I am happy to have discovered Bigger Pockets and I'm pleasantly surprised at what a great guy Brandon Turner seems to be, a great host and very pleasant to listen to.

Re: Wholesaling & Flipping Leads.  Has anyone found a good source of Foreclosure Leads, or of Private Sellers?  The "Pennysaver" is nowhere to be found in Victoria, (although I should call distributor).

It seems to me that partnering up with a trustworthy Realtor is the only way to go, paying then a Finders Fee for a lead, and another fee for a COMP (comparison) - and hope that (s)he doesn't scoop up the property before you do.

I'm looking for a deal (who isn't) on a residence, and even better if I could use it as a music-yoga studio.

After I escape the isolation of this island I can network with a local REI club for more info.

Many Thanks.  Wishing you all a 2015 of Freedom, Ease & Accomplishment.