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Weekly Thought Starter #47: Summary of November Meeting – Where to find the best deals

Weekly Thought Starter #47: Summary of November Meeting – Where to find the best deals

Real Estate Action Group

November 21, 2016 – No. 47

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“I changed my password everywhere to ‘incorrect.’ That way when I forget it, it always reminds me, ‘Your password is incorrect.’ “Anonymous

AGENDA OF TODAY’S ‘THOUGHTS OF THE WEEK’

  • Summary of the November meeting
  • Attached: Summary of the exercise: “Where to find the best deals”

NOVEMBER 14 MEETING REDUX

CROSS BORDER TAX ISSUES

Robert Clegg made an extensive presentation on the various taxation issues that arise when you invest in the US. What company to form, how JVs should be structured, caution on CRA issues etc.

MARC’S MINUTES

Marc discussed the world’s real estate. In Greece, heirs refuse the real estate as an inheritance, since property represents now: debt! Dublin will construct 156 new office buildings in the next 5 years…worldwide there is a new mixed reality.

OZZIE – PRE-SALE

Ozzie discusses the benefits and possible pitfalls of investing in a pre-sale. He directed members also to review the sections in the Real Estate Action book (under addendi)

SOLAR – THE NEW REALITY

Jason Bak discussed solar and its future role for residential/commercial real estate buildings.

OZZIE AND THE NUMBERS

  • The Numbers, Economic outlook, oil and the Canadian dollar. He restated the fact that in his view
  • The average price reports need to be looked at… (Prices are down since April in most areas, some dramatically so…even though the benchmark price keeps rising)
  • Oil acted as predicted – down – now below $46
  • He does not believe the OPEC meeting will work. Expect lower oil prices into December January
  • Canadian dollar as predicted – down – now below .76 cts. We are still a petro currency: Expect it to go lower…How low? Perhaps flirting with .70 cents in the next 2 months
  • US investors – if contemplating – change the dollar (or 50% now)
  • Read this month’s ACTION NEWS a summary of Facts by Email and Sunday Night thought starters. Its always good (ahem!) but especially so this month!

“A little nonsense, now and then, is relished by the wisest men.” – Charlie and the Great Glass Elevator

ACTION THOUGHTS THIS WEEK:

This week, I will review the deal sources and work them to a plan.

SOURCES OF DEALS: Single Family, Condo, Presale, JV, Commercial

#1 Single-Family

  • Advertisements: Placards – Ads on Telephones – Posters x3
  • Banks
  • Bird-Dog/Referrals x4
  • Cash Deals x3
  • Cold Calling x2
  • Craigslist (www.craigslist.ca)
  • Developers x2
  • Development Plans x2
  • Door-To-Door Knocking x4
  • Drive the Area x7
  • Estate Lawyers x14
  • Expired Listings – Recent & Several Months Ago
  • Find Area Expert – Top Performer
  • For Sale by Owner x19
  • Foreclosures/Courthouses x18
  • House Inspectors
  • Kijiji (www.kijiji.aa) x6
  • Knowing When to Quit
  • Lawyers – Notary x2
  • Listed Properties with Out-Of-Area Real Estate Signs
  • Look for Run Down Properties x10
  • Look in Smaller Towns
  • MLS Listings Online – Get Set Up on A Computer for Specific Areas
  • Mortgage Brokers x13
  • Municipal Websites
  • Neighbours x3
  • Networking (REAG) x8
  • Newspaper (Western Investor, Vancouver Sun) x9
  • Newspapers x2
  • Obituaries x7
  • Open Houses x4
  • Personal Letter to Neighbours
  • Personal Pillars/Network x6
  • Pizza Delivery Driver x5
  • Price Reductions – Get Daily
  • Property Guys x3
  • Property Managers x16
  • Realtor Relationships x11
  • Renovation Company
  • Solar Alliance
  • Walk A Neighbourhood – Look for Tall Grass – Look For 50’ Foot Lot x7
  • Wanted Ads on Facebook/Craigslist x2
  • Word of Mouth (Friends, Family, Co-Workers) x14
  • Zolo

#2 Condos

  • Assignments x3
  • Bird-Dog x2
  • Building Maintenance
  • City Websites
  • Craigslist (www.craigslist.ca)
  • Development Mailing List (VIP List) x2
  • Estate Lawyers x5
  • Expired Listings – Recent & Several Months Ago
  • Foreclosures (Downside – Many People)
  • Get an Investment Oriented or Specialist Realtor
  • Landscapers
  • Laundry Mats
  • Listed Properties with Out-Of-Area Real Estate Signs
  • MLS Listings Online – Get Set Up on A Computer for Specific Areas
  • Mailout In Target Building or Area x2
  • Make Friends with An Estate Lawyer
  • Mortgage Brokers x3
  • Morticians
  • New Buildings
  • Obituaries
  • Older Buildings Being Renovated x2
  • Older Buildings Next to New Ones
  • Open Houses
  • Pizza Delivery Driver x2
  • Poor Maintenance (To Buy Whole Building)
  • Property Managers x15
  • REAG
  • Realtor Relationships
  • Service People
  • Strata Council
  • Western Investor

#3 Pre-Sale Condos

  • Assignments x2
  • Bird-Dog x2
  • Building Permits x2
  • Business Associations
  • City of Vancouver Website
  • Construction Company
  • Craigslist (www.craigslist.ca) x2
  • Drive the Area
  • Get on Developer Mailing Lists
  • Mortgage Broker
  • Mortgage Brokers
  • Networking (REAG) x2
  • Planning or Permit Department
  • Public Hearings
  • Realtor Notice
  • Realtor Relationships x2
  • Rezoning Permits
  • Sales People Selling Other Projects
  • Signage/Advertisements x2
  • Subscriber to Western Investor
  • TV News/Newspaper (Vancouver Sun) x3
  • Trades People
  • Visit Sites
  • Word of Mouth (Friends, Family)
  • YP Magazine

#4 Multi-Family

  • Accountants x3
  • BC Online
  • Banks
  • CVRE – Commercial Real Estate List
  • Commercial Newsletters
  • Craigslist (www.craigslist.ca)
  • Developing Areas
  • Driving the Area x2
  • Estate Lawyers
  • Get A Specialist Realtor
  • Kijiji (www.kijiji.ca)
  • Mail Outs/Post Cards
  • Mortgage Brokers x5
  • Pizza Delivery Driver
  • Property Managers x11
  • Public Companies
  • Pull Title x5
  • Service People
  • Subscriber to Western Investor
  • Title Companies
  • Watch for Deals That Fall Through

#5 Commercial

  • Commercial Brokerages
  • Commercial Tab at Realtor.Ca (www.realtor.ca/Commercial)
  • Craigslist (www.craigslist.ca)
  • Geography First
  • Get A Specialist Realtor
  • Lease Signs
  • MLS (www.realtor.ca)
  • Mortgage Brokers
  • Personal Pillars
  • Pull Title x2
  • Subscriber to Western Investor
  • Zone Maps x2

#6 Joint-Ventures

  • Newspapers – Classifieds x4
  • Other Investors/REAG Elevator Pitches
  • Outlook & Landrush Conferences x3
  • Personal Connections x3
  • Real Estate Action Group Members
  • Real Estate Lawyers x3
  • Subscriber to Western Investor
  • Word of Mouth (Friends, Family) x2

Live life large!

Ozzie and Ralph

Announcements/ Housekeeping

1) PLEASE NOTE: Your next exciting meeting is today! Monday, December 12th, 2016 at 6:30 PM (sharp!). The meeting will be at: The Vancouver Alpen Club, 4875 Victoria Drive, Vancouver.  If you are bringing a guest, please e-mail max@reag.ca.

2) NEXT ACTION PLAN/GOAL SETTING MEETINGS:

Next Action Plan Meeting is December 12th, 2016 at 5:30 (Alpen House before the monthly meeting).

Action plan meetings are the foundation of your REAG membership. At these informal meetings, there are no wrong answers. Groups of approximately 10 members share their goals and develop specific 3- day “action plans” to bring them to reality. Earl Nightingale said, “Success is the progressive realization of a worthwhile goal”. At the action plan meetings, we celebrate small successes and acknowledge everyone’s progress. The idea is to keep focused monthly basis and get into action. It’s all part of the process of “growing into your future best”. Sign up today!

For Action Plan meetings registration go to: https://www.reag.ca/events/categories/action-plan-meeting/

Action Plan meeting participants are seeing great success!  Try attending the next one!

3) make sure to explore all the new and exciting features at www.reag.ca

Take a look at your own private member section. Create your own team, post your deals with photos, and respond to other deals directly with the posting member. Use it! We developed it with YOU in mind. Feedback is welcome and appreciated.

4) Don’t forget to use the DEALS section

You will find it on our website at https://www.reag.ca/forum/hot-deals/ as a place to post for your deals. If you haven’t used it, TRY IT! It is so simple to submit. You can include photos of the property as well as all the details directly to other REAG members.

5) SUBMIT YOUR GOOD DEALS TO OZZIE

He is always looking for great deals to be featured in his Hot Properties section of the Facts by E-mail, as well as potentially on Michael Campbell’s CKNW Radio Show. You get exposure to thousands of investors! Send your deals to Ozzie no later than Friday at noon for inclusion in the following week.

6) SOCIAL MEDIA

If you are on Facebook, Twitter, or LinkedIn, make sure to check out our REAG page and “like it” for updates on members, activities, and Real Estate updates!

REAG Facebook | REAG Twitter

Ozzie and Ralph are also on Facebook, Twitter, LinkedIn and Instagram! Make sure you send them a friend request!

Ralph Facebook | Ralph LinkedIn | Ralph Instagram
Ozzie Facebook | Ozzie Twitter | Ozzie LinkedIn | Ozzie Instagram

7) Get your REAG membership FREE

Remember that you get 2 free months for every friend you introduce who signs up for REAG! So, if you introduce 6 friends…your year is free! Your guests can attend a monthly meeting preview ONCE ONLY and you must register their name, e-mail and phone number with Max (max@reag.ca) before the meeting.

8) Elevator speeches

If you have an accompanying PowerPoint presentation, you must send it to us at least 24 hours before the monthly meetings! Try cutting down to 3 slides! We cannot guarantee PowerPoint presentations will be available if they are sent to us less than 24 hours in advance.

9) Submit your offers!

Don’t forget to submit your offers at each meeting to be entered into our Wine Bottle Draw!
They must be real offers, not chicken scratches on a piece of paper. They do not have to have been accepted offers, the idea is to MAKE OFFERS. Show and tell and win!

Feedback from our attendees.

 
Real Estate Action Group
If you don't know where to begin, then look no further! Ozzie and Ralph bring a wealth of knowledge. Educate yourself in the Real Estate industry and take action! Thank you Ozzie and Ralph for all you have done for me!
09/21/2015
 

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