Whole selling in Canada
Hi everyone,
It’s great to know a community like this exists. My name is Theo Abraham, and I’m new to the forum as well as to real estate in general. I have been curious about the real estate industry and the different strategies to enter the market for sometime now.
One strategy that stands out to me is whole selling. I have a pretty vague understanding about it, but I would love to learn more.
I come from the global B2B marketing world and I think that knowledge could help me succeed at whole selling. But, I am practical. I realize that there is so much I don’t understand about this strategy and about reale estate but I’m dying to learn.
I was just wondering if there are any wholesalers in this forum that could put me on to some study material for whole selling in Canada or might be willing to pass on a few tips to a beginner. Especially in the golden horse shoe area, gta Ottawa or Ontario in general really.
I appreciate any help that can be given.
Thanks in advance,
Theo
Hey Theo, welcome. I was in the same boat coming in. Wholesaling sounded easy especially with all the videos on Youtube, little to no money needed etc etc. but 90% of those videos out there are from the US and prices are way different.
I think wholesaling was discussed many times in BP you'll just have to find the forums. Look for Local Canadian forums. BP also has a lot of good tools, videos and reading material.
I suggest you talk to a Real Estate lawyer and mention Assignment of contract and how that can work in your favour and how to cover yourself as well. Get all your questions ready, you might only get one free sit down them.
If you look on kijiji or craigslist, you'll see a lot of "we will buy your house" postings, most of those people are wholesalers as well.
Basically if you can find a good deal (which is hard in the GTA these days) exclusively, it can be done. You will need to find a Real Estate agent who has the time to do comparables for you as well. Remember, they will be using their time to help you and probably for nothing unless a deal actually happens and you give them some cash for their efforts and they would be happy to do it again.
Only speaking on my limited experience in wholesaling. Hope this helps.
Thanks and good luck
I think Wholesaling doesn't work when there is high demand on houses like GTA, as there is always line of buyers even for the worst properties. Like soneone mentioned up, US realestate market opportunities might not apply to Canadian market especially GTA
Good luck for you .
Hi Theo,
Have you had any replies to your question? As an amateur myself I am curious to how you are doing in your investments.
I recommend that you take a look at the youtube videos by Matt McKeever. He has great advice in his videos for new investors.
Best regards,
Michael Patterson
Originally posted by @Michael Patterson:
Hi Theo,
Have you had any replies to your question? As an amateur myself I am curious to how you are doing in your investments.
I recommend that you take a look at the youtube videos by Matt McKeever. He has great advice in his videos for new investors.
Best regards,
Michael Patterson
Absolutely. Matt McKeever has a great channel on youtube for real estate investing in Canada. He's also a good guy.
Wholesaling is absolutely doable in Canada. It's one of the hardest strategies to do successfully, so it's too bad that it's always promoted to newbies. However, it's definitely doable and I have a team wholesaling in the GTA and Ottawa.