All Forum Posts by: William Johnson

 Welcome to BP Chris, if you let it this site will change your life! For info on wholesaling I would recommend taking a look at http://www.recbc.ca/psm/assignment-of-contracts/ for regulatory information from B.C.  This pretty much summarizes the law in all parts of Canada.  The best thing to do though is to contact a real estate lawyer and ask how to do that strategy in Alberta while respecting the law.

@Roy N. I would have to say that I wholeheartedly disagree with you...I think that anywhere that you go in the world that you will always have a reliable (but slightly variable) percentage of people who will do whatever they can to not pay the 5% commission to a realtor.  I doubt whether my opinion or yours could be objectively verified but if you have any statistics or documents to back up your ideas on this subject I would welcome that (although I actually don't have anything concrete to backup what I am saying ;)

P.S. The only reason that I am into wholesaling at this point in time is to eventually be able to get into your investing strategy.

@Robert Burns

 I have oftentimes asked myself the same question.  The answer that I always come to is one where I compare myself as a professional painter to other professional painters.  I know unquestioningly that I could very easily began marketing my services as a professional painter and, despite the fact that there are tonnes of painting contractors in my area I can ply my trade and build wealth.  I know that the same thing exists in wholesaling.  My advice is to stop asking questions and to take immediate and consistant action.

Edit: Not trying to say it is bad to ask these questions, just that once you get a few different point of view to take action instead of developing analysis paralysis.

Thank you to all for the warm words of encouragement! One other thing that I neglected to mention is that you do want to close as fast as the seller needs you to buy not faster. So next time I am going to remember that everything is easier if you can stretch the closing date to a month rather than two weeks. Also I was confident about wholesaling this because I knew I could close on this myself if I needed to because HML were waiting on the sidelines as well.

 Thank you Lisa and anytime just message me I have been thinking of doing that for quite some time actually!

I just picked up a 20,000$ cheque from my Notary here in Montreal. It was a deal for a four-plex that I negotiated an excellent price on that made the owner very happy (he was tired of being a landlord and he got royally screwed by his previous tenants). Québec practices rent control and tenant protection to the point where multi-family owners have to be extremely savvy.

I spoke with @Brian Gibbons from Bigger Pockets who told me I could sell my rights to the contract for 20,000$ (which was a lot more than I was originally planning on selling it for). Thanks to him for the free advice that helped me to make this deal a win/win/win for all parties (and for making me a better $$$ return on this deal).

I called a cash buyer who I met through my networking efforts and he was interested. Everything was set up and we were able to complete the transaction in the time frame that the seller required. I apologize that this success story is not that well written as I don't have a lot of time to write right now.

The main thing that I have learned is that there are 3 actions that are important to do simultaneously when building your business as a wholesaler:

1. Talk to a lot of sellers on the phone to find motivated sellers who don't owe a lot of money on their mortgages

2. Visit their homes and make numerous written offers

3. Regularly network with cash buyers, mortgage brokers, lawyers, notaries and other professionals in the real estate field.

@Justin Daoust

Welcome Justin si jamais vous avez envie de prendre une café écrivez moi. 

This four-plex is in Montreal, Quebec

Price - 213,000$ (My consulting fee is included)

Renovations required - 150,000$

After Renovation Price - 490,000$

Inspection and proof of funds - April 22nd, 2015

Closing and Occupation Date - April 29th, 2015

Potential rental income per month - 2800$ (I have not included this in my proforma calculations)

Proforma Calculations - boul de l'acadie

I will require a 2,000$ certified cheque as Earnest Money.

Contact me at 514-464-7297 or PM me if interested.

Photos - 

https://drive.google.com/file/d/0B-JPhG2a0tCFZzFyN...

https://drive.google.com/file/d/0B-JPhG2a0tCFYWxlR...

https://drive.google.com/file/d/0B-JPhG2a0tCFWUNEU...

https://drive.google.com/file/d/0B-JPhG2a0tCFVTZma...

https://drive.google.com/file/d/0B-JPhG2a0tCFVHJwX...

https://drive.google.com/file/d/0B-JPhG2a0tCFbjNwR...

https://drive.google.com/file/d/0B-JPhG2a0tCFZnRJV...

https://drive.google.com/file/d/0B-JPhG2a0tCFZ3Rpe...

https://drive.google.com/file/d/0B-JPhG2a0tCFVV9LL...

https://drive.google.com/file/d/0B-JPhG2a0tCFV3RuW...

https://drive.google.com/file/d/0B-JPhG2a0tCFc0hEe...

https://drive.google.com/file/d/0B-JPhG2a0tCFenlJY...

https://drive.google.com/file/d/0B-JPhG2a0tCFZ3pPY...

https://drive.google.com/file/d/0B-JPhG2a0tCFZlN2R...

https://drive.google.com/file/d/0B-JPhG2a0tCFY19tV...

https://drive.google.com/file/d/0B-JPhG2a0tCFSnJya...

https://drive.google.com/file/d/0B-JPhG2a0tCFbXNzM...

https://drive.google.com/file/d/0B-JPhG2a0tCFUTNNS...

https://drive.google.com/file/d/0B-JPhG2a0tCFTUpJU...

https://drive.google.com/file/d/0B-JPhG2a0tCFcFQ0M...

https://drive.google.com/file/d/0B-JPhG2a0tCFSmxQR...

https://drive.google.com/file/d/0B-JPhG2a0tCFeGFoZ...

https://drive.google.com/file/d/0B-JPhG2a0tCFYlkzO...

https://drive.google.com/file/d/0B-JPhG2a0tCFWnFLQ...

https://drive.google.com/file/d/0B-JPhG2a0tCFQTRpe...

https://drive.google.com/file/d/0B-JPhG2a0tCFZzZ2S...

https://drive.google.com/file/d/0B-JPhG2a0tCFcUQxV...

https://drive.google.com/file/d/0B-JPhG2a0tCFaW5Ee...

https://drive.google.com/file/d/0B-JPhG2a0tCFVXlLR...

https://drive.google.com/file/d/0B-JPhG2a0tCFaXlOb...

https://drive.google.com/file/d/0B-JPhG2a0tCFdDdia...

https://drive.google.com/file/d/0B-JPhG2a0tCFZXA2b...

https://drive.google.com/file/d/0B-JPhG2a0tCFRTRGN...

https://drive.google.com/file/d/0B-JPhG2a0tCFdnBzT...

https://drive.google.com/file/d/0B-JPhG2a0tCFbTE0S...

https://drive.google.com/file/d/0B-JPhG2a0tCFZXQzW...

https://drive.google.com/file/d/0B-JPhG2a0tCFRU9JS...

https://drive.google.com/file/d/0B-JPhG2a0tCFVnVPb...

https://drive.google.com/file/d/0B-JPhG2a0tCFR0RnZ...

https://drive.google.com/file/d/0B-JPhG2a0tCFbE5nQ...

https://drive.google.com/file/d/0B-JPhG2a0tCFb3BJW...

https://drive.google.com/file/d/0B-JPhG2a0tCFVndTT...

https://drive.google.com/file/d/0B-JPhG2a0tCFR2VQY...

https://drive.google.com/file/d/0B-JPhG2a0tCFWHdmZ...

https://drive.google.com/file/d/0B-JPhG2a0tCFc3Nla...

https://drive.google.com/file/d/0B-JPhG2a0tCFal9NM...

https://drive.google.com/file/d/0B-JPhG2a0tCFMVMyU...

 Yes and Judging by the reactions of everybody who I have mentionned this to thus far I will not have a problem getting this paid at the Notary.

 I am not sure, I have never gotten this far down the line on my own before and I don't know what to expect nor how to prepare for the unexpected.