All Forum Posts by: William Johnson

Welcome @Bruce Kubick

Bigger Pockets Rocks!  A great place to learn and be inspired.  Don't hesitate to contact me anytime and I would also add @Gabriel Caron as someone to reach out to learn more about wholesaling in Montreal.

 It is always a question about asking the right questions. Wholesaling is about assignjng your contract for an incentive.  

The biggest barrier to your success is you. By far the hardest part about wholesaling is doing the grind everyday. By that I mean making offers all the time. It is possible and it is legal, call the attorney for the Quebec real estate club and she will tell you. Very few pull it off because you only have a 0.33 percent chance of getting those low offers accepted.

I made 20,000$ thanks to coaching I received from @Brian Gibbons before I even paid him!

http://www.biggerpockets.com/forums/223/topics/194...

The negotiations skills I learned from him make negotiating with sellers a win-win negotiating cake walk.  He is also extremely tough as a coach, if you are not interested in taking action and making things happen then he is not for you.  His approach is learning the theory and then immediately putting it into practice.

Ultimately the only people who I have seen complain about him are those who are not ready to take action and are not ready to own the responsability for their decision to let their fear control them and not go out and make things happen.

Bottom line is that he clearly knows what he is talking about, this is not one of those coaches who started investing and then realized that coaching real estate is much more easier and with much less risk (hmmm...but there are not any coaches like that on BP are there?) Brian has gone out and done the investing and risk taking and continues to do so, but he also loves helping others and realizes that.  

What sold me on Brian is that although he will eventually draw the line he is such a generous person that he has a hard time not helping somebody even if they are not yet a paying customer.

Welcome Joe,

I wish you well in your Real Estate Education business!  You are definitely off on the right foot as far as marketing is concerned.  There are a lot of potential students on this site.

I would recommend http://www.biggerpockets.com/renewsblog/2014/05/25... plus any of the podcasts for your pursuit of additional knowledge in real estate.

Happy recruiting!

It really depends on your personality. There are successful investors who are pros at using other peoples and there are others who only do as many deals as their own individual cash reserves and credit will allow. You can be successful either way but it is up to you which one suits your individual personality. Do you like huge challenges and regularly being out of your comfort zone or do you prefer relative comfort?

I suggest figuring that out and then proceeding one way or the other. A lot of new investors don't ever ask themselves these questions and as a result never get going on anything.

That is exactly right, I get written approval (only when it is clearly a good deal) the main thing to remember is that, even if you plan on wholesaling you have to clearly plan on performing on what is a legal contract as well.  This means that you have to be ready and able to buy it yourself according to the deadline that you put in the contract.  This means you need to have financing in place should you need to pull the trigger and buy it yourself.  If you do not have financing in place to purchase the deal then you entered into a contract to purchase in bad faith (never intending to buy it in the first place).  What they don't teach is that you cannot enter into a contract to purchase if you can't execute it.

Good job Lisa we should get together with some other BP members here in MTL!

@Christian Chaffe

I would highly recommend the golden horseshoe area, specificlly the Niagara Region, for me it is perfect for the Canadian wholesalers.  It is depending on where you move but you will be anywhere between 5 and 45 minutes from United states (Niagara Falls and Buffalo) where you could also set up your business and operate if you're comfortable going back and forth over the border on a regular basis.  I love the area, I was born and raised there and it's beautiful and has amazing wine, picturesque orchards and hiking and beaches and waterfronts and the most friendly people you can imagine.  It is exactly where I would go if I didn't have my life established here in Montréal.  As a matter of fact contact me if you ever decide to take my advice and move there.

@Roy N. has some excellent advice.  There is a huge learning curve when it comes to wholesaling so if you do commit to doing it you should approach it as a five-year learning curve (like any trade or profession) you will need to find a mentor who knows how to flip houses, evaluate renovation costs, evaluate after renovation value, evaluate as is value, find financing, negotiate with agents and resellers etc.  I would only recommend wholesaling if you need to generate some starting cash to get into other more stable real estate investment area strategies such as multifamily, commercial, note investing etc... Wholesaling and flipping give you the most liquid asset ($$$) but nothing else whereas the other strategies mentionned give you long term investment vehicles that will hold value and appreciate at the same speed or faster than inflation and will give you a cash flow while doing so.  

To find a mentor you need to take a look at some of the great posts on this site that address that challenge however it would be the best investment of your time upon arrival in whichever market you should decide to move to.

 Been there and done that about ten years ago, got the post card and everything. You are in the right place. The foundation of all of of real estate is networking.  You need to be networking all the time, none of these things will work IMO without connections. Always be networking and always be closing.