Real Estate Investing in Alberta and across Canada can be a mystery and confusing to figure out. We bombard our brains with American insights, strategies and techniques that often don't apply here. Do it yourself TV shows, Flip it in 30 days, Speakers and seminars, so much amazing information but always the HOW TO in your target market and community is missing. 90% of the time, we find more "theory" than actual "hands on" information. I would like to share some insight as a real estate professional in Alberta on how to get started.
The very moment you start thinking about purchasing property, you are an investor. Since I began my career, I’ve always adapted the mantra " You can never loose in Real Estate, its always about opportunity" There is always excitement buying your first home and becoming a "First time Buyer". I prefer to call those clients "First time INVESTORS" Creating the attitude within yourself that you are investing in something not only to live in and create memories, but something beautiful you can build on and grow.
One of the most important elements to successful Real Estate investing is CREATIVITY! When you starting thinking about investments, sit down and WRITE down the WHY you are getting started. The WHY factor will include, financial goals, career goals, retirement plans, even goals to buy new things such as cars, vacations even jewelery! They will be your goals and your goals only.
Seek advice from a Real Estate professional. Search for someone who you are comfortable sharing your ideas and goals with. Again CREATIVITY becomes a large factor in finding the right expert to work with. You should always find someone who is knowledgeable in your market as well as surrounding Real Estate markets, can offer unique ideas and solutions to different types of real estate investing. Your real estate professional should sincrerely share the same enthousiasim and energy. There are so many different ways to invest in real estate (Too many.....Enough for a whole other blog!) A qualified professional may also be able work with you as a mentor. A mentor is a great person to have on your team, keeps you focused on your goals, can help you make tough decisions and share experience. On a personal note, I am so very grateful for the mentors I have had the privilege to learn under.
A very important piece to the real estate puzzle is financing. Financing= a very scary word. Every real estate investor in history had to start somewhere. That somewhere usually meant starting at a bank or with some kind of loan. My strongest piece of advice to any buyer I have whether is a first time investor or someone looking to buy their 3rd or 4th property. Shop around. One of the most powerful members of your team will be the finacial adviser/mortgage specialist who will use a lot of CREATIVITY to get you options! Financing is a very important step and so many people are afraid to take it. A qualified financing specialist will help you develop the right plan to get you what you need. It may happen right away or it may take some time, but as long as you know what you need to do, it will happen. If you think about a famous real estate mogul such as Donald Trump.......its hard not to believe he got to where he is with a lot of CREATIVITY.
Use your own will to fuel your desire to reach your goals. Use your own CREATIVITY to develop your plan. Whether its a plan to buy your first home, buy rental income properties or simply a vacation property, if you really want it you will get it. Search for a real estate team who will work to help you get to where you want to be. It might be a 6 month plan, a 2 year plan or even a 5 year plan. As long as a plan is in place you are ahead of the game.
Real estate is beautiful. I have the pleasure of working in Central Alberta which is so abundant with opportunity. I truly believe with CREATIVITY and goals, anyone can become a very successful real estate investor.