All Forum Posts by: Gurjot Grewal

I am interested in a duplex to start, buy and hold, cash flow. Dont want a big rehab project, but wouldn't mind putting some work in if the numbers make sense. No interest in condos or townhomes.

Can anyone recommend a good investor focused agent, even better if they invest themselves.

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Quote from @Chris Baxter:

When building relationships, be clear and honest about your intentions. Your first reach-out to a Realtor should not be to ask for them to send you listings. Instead, take the opportunity to learn more about the market, their experience, and what opportunities they see for investors with your specific strategies. This information is far more valuable than simply analyzing random listings in a large market (both Calgary and Edmonton are huge... ).

Thanks @Chris Baxter. I was hesitant to post this but your reply, I will directly apply this to how I approach my first agent.

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I am heavily considering investing in edmonton or calgary. My thought process is , if I was to contact an agent in each city to send me some properties to analyze. Then see if I notice any patterns and go ahead with one. Is this bad business if I have no intention of dealing with the other once Iv decided on which market ?

I dont want to waste anyones time, but I feel this would allow me to be more confident with my choice of market rather than just analyzing on websites.

2 Votes

Quote from @Stevo Sun:

Quote from @Gurjot Grewal:

Quote from @Marshall Magnus:

@Gurjot Grewal

That would be great! I regularly here on the podcast that a person is the average of the five people they spend the most time with. At this point I am pretty sure that in my case all five of those people are authors. I love a good business or investing book but I am pretty sure all my friends are tired of talking about books. I will have to move this one up in the line so I can properly follow this thread.

When it comes to Edmonton I have a bias, I love this city. It is quite possible that I turn a blind eye to its flaws or economic problems. I really don’t know how the future will oil prices will affect the local real estate market, I have a lot to learn about markets, cycles and the larger economics of real estate. There is a good chance that once I do know more the most beneficial path will be more clear. Until then, my stance on making a decision when the choices are many and varied has alway been, if the answer is not clear then the choice is not important. Whether it is a boom or a bust, the best house on the street will be rented. This may be naive but I really do think that the quality of the house (and the margins on the deal) will hold up independent of the local or larger markets.

That was a very long and rambling way of saying I don’t think a person needs to worry about the future of Edmonton as much as they need to worry about the quality of their deal. And I look forward to talking about the book with you!

Thanks for the very well thought out reply. Edmonton or Calgary are where I am leaning at the moment. And yes lets keep in touch! This book was tough to track down none of the local stores have it in stock, neither did the local library .Had to order off amazon, used 2-4 week wait...

Calgary deals are really hard to find right now. Edmonton might be easier.

@Stevo Sun are you looking at specific areas of calgary? I was considering somewhere in the NE. But admittedly have some research to do on neighbourhoods.

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Quote from @Matthew Irish-Jones:

@Gurjot Grewal

The two major mistakes I see seem to be universal.

1. Chasing cash flow and thinking you will get 20% returns in D class areas.

2. Taking on large renovation projects without knowing what you are doing.

To your second point. As someone who knows little about the rehab process, and wants to brrr. Is their anyway for me to gauge a large rehab. From the books I have read, theres some issues that are just not worth touching. Is there anything specific you'd suggest staying away from as a beginner ?

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Thank you everyone for the replies. Seems like not scaling fast enough is a common regret among many investors.

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Quote from @Marshall Magnus:

@Gurjot Grewal

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@Marshall Magnus maybe we can discuss if you decide to pick it up. I find discussing helps me reinforce what iv read and makes it stick.

And thanks for your insight. I am heavily considering edmonton. Although it seems edmonton has made efforts to diversify its economy. A concern of mine is, historically some housing in edmonton seems to be heavily influenced by the price of oil. Long term do you see this as a concern?

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Thanks for the reply @Chris Baxter what were the consequences of introducing yourself to your tenant ?

Also if you dont mind me asking, knowledge in what aspect has given you confidence in scaling sooner?

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Hello BP, as a new member I would love to hear any stories investors may have of when they first started investing in real estate.

Did you make any mistakes, do you have any regrets, what did you learn?

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All Forum Posts by: Gurjot Grewal

Gurjot Grewal has started 72 posts and replied 156 times.

Post: Any recommendations for an agent in Edmonton?

Post: Is it wrong of me to contact two agents ?

Post: Is it wrong of me to contact two agents ?

Post: Is "Secrets of the Canadian Real Estate Cycle" Relevant ?

Post: What are some mistakes you made starting out?

Post: What are some mistakes you made starting out?

Post: Is "Secrets of the Canadian Real Estate Cycle" Relevant ?

Post: Is "Secrets of the Canadian Real Estate Cycle" Relevant ?

Post: What are some mistakes you made starting out?

Post: What are some mistakes you made starting out?