Underground Strategic Home Buying Blog

Underground Strategic Home Buying Blog has one purpose: To bring you the most up-to-date strategies on buying and selling real estate. I live in Calgary, Alberta, but I invest all over the world (currently California, Costa Rica and Panama) - so you'll get a broad look at what some of the top investors are doing in specific places.

-I have found that the best way to learn is through mentoring- think of this as free mentoring,

-With my network of investors and contacts, you will see what real investors do to make money. It isn't sitting in front of a computer and hiding in their basement from the real world acquiring a mass fortune- sorry, those GRQ schemes are saved for internet marketers.

Here is what You can expect;

1) If you have money and no time to invest- I will present you with deals that I am looking into and need partners

2) If you are an investor that finds deals and needs money- I will help you structure the deals, find money and make sure that you are successful in your investing endeavors.

3) If you are buying or selling your own house- you'll learn how to do it on your own, better than 80% of most Realtors.

Caveat: My website isn't legal advice. My goal is to show some of things I do and have done- sometimes I make mistakes and lose money. It's been my experience that you learn more from a mistake than a success- as long as you don't make it twice.

Good luck Investor

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Full Time Investing- It's about time!

I've made the decision to go full time investing! It's a pretty exciting time for me as I'll no longer have the security and routine of the 'Day Job".

It will also allow me more time to dedicate to my site, adding important updates and linking to some great RE investors that I think you’ll benefit from.

After 5 years of part-time investing it was time to cut the umbilical cord. I thought that it would be one of those choices- like after you break up with someone, you get that buyers remorse (or whatever they call it). I can say that I’ve never felt better and burning the ships in the harbor (an Old Persian war-time story) so I have no retreat back to my desk job will no doubt prove to me my best investing/life decision to date. More on the transition later- good luck investing!

Calgary Rent to Owns

Who can you trust in the Calgary Rent to Own market place?

I have spent the past 7 months meeting with different investors, Realtors, and small companies- all proclaiming to specialize in Rent to Own. Until today, I had not met one that I could in good conscious recommend to you.

Today Kathryn and I met for a coffee (after playing phone tag for a week or so)- finally someone on the same page.

We have decided to work together to help Calgarians find homes that they could not otherwise qualify for.

If your interested, please feel free to contact me (best to fill out a form on my site) and I'll be sure to explain how we can help.

If you're not familiar with rent to owns, I have a good explanation on my website or you can keep reading;

i) Rent to own is unilateral contract. That means that you have the option to purchase, you are not bound to buy.

If the value of houses continues to fall, don't exercise your option to buy. (if you are familiar with Stock options- they are very similar)

ii) If a seller is a real prick, and doesn't want to sell you the house in a year because his/her house goes up in value a $100k, then be prepared to go to court.

The best way to protect yourself (if this happens) - is to register your right to buy the house on title. Some sellers allow you to do this, others will not. So long as you have a Purchase and Sale agreement with the vendor you should be protected.

You’ll also want to make sure that you abide by the Terms and conditions of the lease and purchase contract you sign.

Good luck,

Shane

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Should You invest in Calgary Real Estate?

Last night my real estate buddy and I sat down at Starbucks to chat about getting back into the Calgary real estate game.

I have been skeptical over the past 6 months, not sure how much of a correction the market would take.

Investing in a depreciating market is not the best way to build wealth- especially if you’re buying rental properties that don't cash flow.

So what did we decide?

1) We are looking for properties that will break even on cash flow (mortgage, taxes, condo fees= rent)

2) Only buy houses and condo's under $400k (I still think the cookie cutter houses that sold for $500k last year have a little more room to drop).

3) Hold long term- rentals

4) Any flips- need at least $50k of room to profit. Why? Considering that Realtor fees will run me about $15k, closing costs (both ways) at least $2,000, holding costs of $4-5k, potential market correction of 1-4% in the next 6 months could lower the sale price by 5-20k easily.

That's it- those are the Coles notes on what I am doing these days in Calgary.

Take care,

Shane

Bought a house last year and Now You NEED to sell?

Getting alot of Calgary folks calling me these days, with the same pains- "I bought a new house or condo last year and I need to sell fast"

Here's a bit of advice I learned from a successful Real Estate investor/Realtor in Florida- Heather Seitz

1. Look at the houses listed now, which ones have pending sales and what houses have sold in the last 3 months (Calgary is getting very competitive).

2. You MUST Price your property below the competition (ignore any blowout sales or foreclosures- they are not true market values)

In your ad (or on MLS if you have a Realtor) say something like this "This is the lowest priced property in the neighborhood that is NOT A foreclosure)

4. List it with a Realtor that is going to market the hell out of your house- online, Craigslist, websites, newspapers, flyers, etc.

5. Hold open houses Saturday and Sunday and put AT LEAST 15 signs out directing people to the property!

Good luck

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