How one Calgary investor bought foreclosures for a new Airbnb Business

Our client recently bought 6 condos in one building to operate as his new Airbnb Business. This recently retired accountant crunched the numbers into a solid business plan and took action. His idea became his reality. We all have great ideas, and I’m sure you’ll have some outstanding ones today. Maybe even while you are reading this article. But few of us take action. Many of us tell others about our great ideas in the hope that they will take action and then share the success with us because it was our idea. Good luck with that!

The two main points of this article are that you have to take action yourself, and there are opportunities in Real Estate to create a business for yourself.

Our client bought 6 condos in the same building, and only a few were actual foreclosures. The other condo deals came about from our due diligence on his behalf, leading us to other motivated sellers. He now owns several similar units at the same address. And only has One Condo Board and One Condo Management Company to deal with. And a single set of Condo Documents. One set of Bylaws, One Reserve Fund Study, One Reserve Fund Budget, One Monthly Board Meeting, One Annual Board Meeting, and other unforeseen issues that may pop up from time to time.

He also gets to streamline all other costs to improve and manage his portfolio of condos at a single address. All by taking that first step after the idea popped into his head.

What’s the worst thing that could happen, and could he deal with it? That question should be at the top of everybody’s list when evaluating a great idea. The worst thing that could happen in the case of any business is to have no income for whatever reason. No income is only a problem if you have debt. No Income, No Debt, No Problem. It’s not likely you would lose 100% of the revenue potential. A solid written business plan will tell you your Break-Even point based on debt service, operating expenses and income. Once you have a Break-Even calculation, you will know when your business starts to lose money. So, the worst that could happen is you start losing money. How much could you lose, for how long and could you deal with it? Making sure you have an excellent downside cushion helps you sleep at night. On the other hand, if you have no down-side cushion, your motivation to get it right becomes very focused.

We have many clients that go into business for themselves with Real Estate in Calgary. And they all started with the first one, and the first one could be any type of property that generates income.

They took action on their idea. They focused on their goals and ignored the jealous and envious dream stealers. Taking action is taking a leap of faith in yourself. Don’t let yourself or anybody else hold you back. Get your Great Ideas down on paper, crunch the numbers, find your break-even point and decide if you can deal with the worst that can happen.

Opportunity is knocking; answer the door! We can help you!

Read full post

Three important things to know when buying a foreclosure in “As Is” condition from the banks or the courts are:

  1. Buyers take all the risk
  2. Lenders typically won’t finance “As Is” properties
  3. “As Is” Includes Nothing.

Buyers take all the risk in exchange for a discount on the price.

That would be the basic premise of buying a foreclosure. The seller is, in most cases, the bank or the courts. The foreclosure sellers have not lived in the property. They have limited knowledge about the property, so they use “As Is” to offset the lack of information a traditional seller would have an offer to the buyer. It’s up to the buyer to use all their own resources to mitigate the risk. The most valuable resource for buyers of Alberta Foreclosures is an experienced real estate agent like Jerry Charlton.

Lenders Do Not Like to Mortgage “As Is” Purchases.

Mortgage lenders have two risks they lend against. One is you, the buyer, and the other is the property they get as security. Banks like to take almost zero risk in exchange for low mortgage interest rates. It’s not impossible to finance foreclosures, but it is for most people. Courts will not consider any Offers To Purchase a Foreclosure with conditions like financing or home inspection. Banks are a bit more flexible about conditions. The rule of thumb with foreclosed properties is Cash Is King. Whoever makes the best Cash Offer usually gets the property. This is where a great mortgage agent with access to many different lenders, including the traditional banks, can help you. Renting money is easy!

“As Is” Includes Nothing.

When you buy a home, you usually add into the contract the Stove, Fridge, Dishwasher, Washer, Dryer, Window Coverings, etc.  Not so with foreclosures. Again, the sellers have minimal knowledge about the property, let alone the appliances. Therefore, the sellers of foreclosed properties do not include anything in the sale. What this means to a buyer is if there is a stove, fridge, etc., in the property on the day of the “As Is” possession, then the buyer gets to keep them. If the property is vacant, the appliances usually remain. If the property is occupied, the story could have a different ending.

A real estate agent like Jerry Charlton is the most essential resource a foreclosure buyer can have. He has helped buyers and investors purchase foreclosures for almost 20 years.

Read full post

In the coming months, a lot of people will be searching for Alberta Foreclosures for sale. Banks are raising interest rates on mortgages. Inflation is out of control. The stupid Russian invasion of a free country is wreaking havoc around the world. Oil prices are going through the roof. A recession is on the way and will be sending a lot of people back to the home rental market. 

So where does the smart money go in good times and bad? Real Estate that's where, just ask Warren Buffet, Bill Gates, or Jeff Bezos. Billionaires love Real Estate. You can even become a Nut Case President of The USA with the help of Real Estate!

Anyways back to Where Do You Find Alberta Foreclosures For Sale? Right here on my website, we feature all the foreclosures for sale today. New listings get added daily. We can also send you the new listings as they happen which moves you to the front of the line. Quickly evaluate the new foreclosure listings from the comfort of your email box.

But if you insist on finding foreclosures the hard way and after the smarty money has had a look, then click some of the links below to get started.

Calgary Foreclosures

Bank Owned Foreclosures

Court Ordered Foreclosures

Airdrie Foreclosures

Okotoks Foreclosures

Searching and Finding Foreclosures For Sale is just the first step in the process of buying and owning foreclosures. We are here to help you whenever you are ready. Just call, email, or even text us. 

Read full post

All Calgary Home Sales YTD
The Calgary Real Estate Market for May 2022 continued to favour home sellers. Even with higher mortgage rates, higher resale inventory, and wars, home sales in May 2022 are slightly higher than one year ago. The market has seen a large number of real estate investors selling off rental properties to cash in on higher prices and strong demand. This is causing an equal number of renters to scramble for a dwindling number of remaining rental properties. Ontario and British Columbia home prices are driving large numbers of people to more affordable Alberta Homes. Banks willing to lend at higher values is pushing home prices in Calgary higher, but still more affordable than in many other Canadian cities. Whatever market we are in you are always better off working with an experienced realtor that knows how to avoid problems. We have been helping Calgary Home Buyers, Home Sellers, and Real Estate Investors for over 20 years!
Calgary Homes Sales Chart 2022
Detached Home Sales YTD
Detached Single Family Home Sales in May 2022 fell well below last May's sales. Why? The biggest reason is a lack of sellers of good quality homes at fair market prices. It's a seller's market. Here are a few facts about single-family homes in Calgary. There are no condo fees. You own the land the house is built on. You get a yard. Garages are very common with detached homes. Some homes have basement suites for In-Laws or renters. Most neighbours are also owners. You have more control over the ongoing value of the property. New home builders would rather build townhomes and apartments, making it very difficult to flood the market with single-family detached Calgary Homes. Very low turnover in detached homes means stable neighbourhoods. The very best homes might come on the market every 30 or 40 years. We see this quite often. Those homes are like flowers that bloom once every 35 years but only for 15 or 20 minutes. You need a great experienced Realtor® like us to make sure you get your chance at these gems.
Attached Home Sales YTD
As we consider the chart below for attached home sales we can see a very healthy seller's market enjoying the overflow from the detached segment of the Calgary Real Estate Market. Keep in mind this category includes some beautiful infills in the inner city of Calgary and not just row-style townhouses. With the low inventory of rental properties many new real estate investors are snapping up townhouses in well-managed great complexes throughout Calgary. Buyer due diligence and the opinions of highly qualified real estate agents will help you avoid buyer remorse. Shop wisely and work with experts!
Condo Home Sales YTD
Do you hear that? It's the sound of Calgary Condo Sales snapping back. Inventory is up and sales are down. It's a tough market that has been propped up by Detached Homes and Attached Homes. When you buy a condo you get a lot more than meets the eye. It's like getting married and inheriting in-laws you could do without, but are stuck with. Do your own research on buying and owning Calgary Condos before you step foot in one. You will hear about Condo Boards, Condo Documents, Reserve Funds, By-Laws, and much more that come with every condo and could be a blessing or a nightmare. Buyer Beware and working with a real estate agent that knows Calgary Condos is a must to avoid regret, anger, and missed opportunities. No real estate market has more pitfalls and hidden traps than condos. A simple google search reveals what a true minefield some condo owners have stepped into.
My Thoughts Today

Hello, June 2022. Did you know we are only a few weeks away from the longest day of daylight of the year? That's right folks by the last week of June the days get shorter. The sun comes up and goes down on a shorter schedule until we get to the shortest day sometime late in Dec 2022. What does this mean for the Calgary Real Estate Market? Nothing that I can think of, I just thought you might want to know.

So let's see, today the Russians are still killing people without cause in Ukraine and probably all over the world as well. The midget Putin is still breathing, which is a shame. The EU is helping Putin kill kids by buying oil from Russia. Hey, Canada Here! We have oil to sell you know. There have been many Putin's in history and often you read how those close to those historical Putin's regretted not putting a bullet in the heads of their Putin's. Hey all you close to Putin, have no regrets!

Another day in the USA and more futures are snuffed out in senseless school shootings. World mouthpieces offer canned responses on thoughts and prayers. Guess what your thoughts and prayers are not working. Taking the weapons of mass destruction out of the hands of kids would be a start. Anybody that has ever been a kid knows that mental issues are a large part of growing up. Not a time to be able to buy machine guns. How smart were you at 18? Would you have sold you a machine gun? Common sense is a myth. Thoughts and Prayers are not actionable. I wonder how long before I can just copy and paste this? Sad.

Avoid the Noise! Get off your phone, turn off the TV, and stop reading online BS. Get outside and enjoy the warm weather, sunshine and happy people! Take a road trip. Take a day trip. Visit a small town outside the City. Take a Hike! Golf. Read a Great Book. Relax in your backyard. The more involved in other things you can get, the less space for the BS of the world to cloud your mind. Take a break! You Deserve It!. Till next month.

Read full post

All Calgary Home Sales YTD
Average Daily Sales of Homes in Calgary for April 2022 are slightly higher than April 2021. Does this mean the Calgary Housing Market is starting to slow down? The numbers would suggest that is the case. We have had a rise in the Bank of Canada Prime lending rate in the past month, and the increase in the prime rate means mortgage rates also get bumped up. We also saw a significant rise in unsold active listings at the end of the month. Before you read too much into these numbers, remember the best properties are always in demand. Location, Location, Location is not just a cliche; it's a fact. Compromise on everything else but be location picky!
Calgary Homes Sales Chart May 1 2022
Detached Home Sales YTD
We have 2,460 Detached Homes for sale at the end of April. Average daily sales in the Detached category dropped to the lows of May and June 2021. As I've said before, Detached Homes are Gold. Money in the bank. In demand no matter what's going on in Calgary or the rest of the world. Detached Homes have no condo fees, no condo boards, no flooding of the market by home builders, and better opportunities to increase values with regular upgrades. Be picky with the location. Buying the ugliest house in the best neighbourhood is another cliche you hear. You hear it because it's true. Be picky, my friends!
Calgary Detached Homes Sales Chart May 1 2022
Attached Home Sales YTD
Healthy is not a word we've heard in reference to the Attached Homes Sales Market of Calgary. But from the looks of sales for April 2022, you can say it looks like a very healthy market. With rising prices and multiple offers hammering the detached segment, attached homes have become very attractive for many buyers. I'm guessing a lot of renters were forced to move because the landlords sold the detached rental house they were living in is also helping sales. There are some beautiful well maintained attached home options for savvy buyers. Working with a knowledgeable Realtor also helps avoid buying falling rocks. Be picky; let the market come to you.
Calgary Attached Homes Sales Chart May 1 2022
Condo Home Sales YTD
Even though it appears Condo Sales are dropping like a slow-moving train, this part of the Calgary Housing Market is doing well. The activity level is giving a lot of Realtors an education on condo management companies and condo boards. When you buy or sell a condo in Calgary, they come with more than the eye can see. Subject To Review and Approval of Condo Documents is a typical buyer due diligence clause in an offer to purchase. Reviewing the condo documents answers many questions and provides many clues about potential special assessments and what direction condo fees are headed. Special Assessments are Cash Calls made on the owners to pay for significant repairs not accounted for in the reserve fund. The Reserve Fund Study and Budget is an essential document package you need to examine closely as well. Buyer Remorse is a real thing and not just another cliche. Working with an experienced Realtor will help you keep it a cliche as far as you are concerned.
Calgary Condo Homes Sales Chart May 1 2022
My Thoughts Today
The war in Ukraine is top of mind for lots of people, and rightfully so. What's happening in that country by another country in 2022 is criminal. We like to think we've come a long way since the barbaric days of our collective history. Russia today is making it painfully clear to the world that humanity is just as ruthless as ever. It reminds me of the Scorpion and the Frog crossing the river tale. The scorpion stings the frog, and they both drown; when the frog asks why the scorpion says it's in his nature. What we see from Russia is in their nature.
Rising Interest Rates to knock down inflation is a big topic. It makes one wonder who is it that gets the Extra Interest being charged. The banks obviously benefit when they get to raise the rent on the money they are already renting out. Rising interest rates are a transfer of wealth from Money Renters to those with money to rent. Inflation, to me, means Wages and Earnings are not moving to keep pace with the devaluation of our currency. Prices don't go up, the value of our money goes down. Inflation is business owners failing to pay employees more. Google is buying back 70 Billion dollars of their own shares. Apple is doing something similar. If they and others simply paid employees more instead of buying back and burning paper, inflation wouldn't be used as a tool to make the rich richer.
The Hot Calgary Real Estate Market will end. I know this for 100% certainty because it always does. If you've ever seen an ants nest explode because there are just way too many ants in the nest, that is what this market feels like. Everybody decided at once it is time to move. Once they get settled into their new ant hills, things get back to normal. The Fear of Missing Out is the final cliche for today. Don't fall for it. It's not real. We live in a world of abundance. FOMO is an illusion. Be picky and patient, my friends!
Read full post

All Homes Sales Calgary - Apr 1St 2022

Daily Average Sales drop from 185 in Feb to 133 in March. However total sales for the month of March reach what has to be an all-time high for the City of Calgary Real Estate Agents. 4,124 homes in Calgary got claimed by new owners. The Calgary Real Estate Market for those in it right now feels like an Instant Pot Pressure Cooker that just popped its top. I predict the market will continue like this until it stops. Sorry, that is the best I can say today. :)  

Detached Homes Sales Calgary - Apr 1St 2022

Detached Home Sales in Calgary continue to lead the stampede of home buyers even though the daily average for the month dropped to 73.5 units per day. Sales still outpace supply. Detached homes are the gold in the local real estate market. Owning the land the house is built on seems to be what most savvy buyers want. No condo fees or neighbours on the other side of the walls. Back-yard BBQs are superior and safer than balcony BBQs. Hot Tubs have become as hot as the housing market during covid. You need a yard for a Hot Tub. Call Marc Grenier at Paradise Bay for yours. 

Attached Homes Sales Calgary - Apr 1St 2022

Attached homes are selling at a pace that is surprising but not surprising. As the second choice category for most home buyers attached homes have always lagged the detached home market. Not last month. Sales outpaced supply for the first time in this agent's memory. More attached homes sold last month than the supply we ended the month with. That has never happened before in Calgary. The 100 Year Townhouse Flood is on in Calgary Real Estate Market. The second choice category has become the first choice category for many new eager homeowners and real estate investors. Condo fees are typically low because no utilities are included. There are a lot of great townhomes in Calgary with some real ugly ones hiding amongst them. Be careful out there. Work with the protection of a savvy Real Estate Agent like Jerry Charlton. 

Condo Homes Sales Calgary - Apr 1St 2022

Calgary Condos are reaping the overflow of buyers from the detached and attached markets. Don't be fooled into thinking that all of a sudden everybody wants a condo. That's just not the case. Condos are selling because that's all that is left for most people. The condo market looks good right now. It is a great time to unload the one you have been sitting on for years waiting for the market to turn. If you are buying a condo and have never bought a condo before then you need to learn about a lot of things. What is a reserve fund? What is a reserve fund study? What are post-tension cables? What is the difference between titled and non-titled parking stalls? What is a condo board? Who decides how much the condo fees are? Who decides how to spend the condo fees? There is a lot to learn as you do your buyer due diligence when buying a condo. Do not buy a condo without the help of an experienced agent that is looking out for your best interests always. Like Jerry Charlton of course! 

Read full post

Calgary Homes Sales Feb 2022

Detached Home Sales Feb 2022

Detached homes are selling at a rate never before seen in the City of Calgary as buyers from Calgary and across Canada stampede to snap up the new listings. The detached market daily sales almost equalled the daily sales number for the entire market in April of 2021. The market is running wild.

Calgary Detached Homes Sales Feb 2022

Attached Home Sales Feb 2022

Townhome sales have become hot only because eager detached home buyers are leaving nothing left to buy. Most buyers would prefer to own the dirt underneath the home but are now settling for townhomes with monthly ownership fees. Fear of Missing Out buyers could have buyers regret when the market returns to normal. Be careful out there!

Calgary Attached Homes Sales Feb 2022

Condo Home Sales Feb 2022

Condos, Condos, Condos.... The most neglected part of the Calgary Housing Market has become hot. Sales of Calgary Condos are on a pace that we see in other markets, not Calgary. The overflow of buyers getting shut out of the detached market and the attached market are buying condos like crazy. Beware condo buyers. Do your due diligence. Hire Norm at Condo Check to review the condo docs for you. Still some great condo deals waiting for the right buyers.

Calgary Condo Homes Sales Feb 2022
Read full post

The Top 5 Places To Find Cheap Calgary Homes

  1. Bank Foreclosures and Court Ordered Sales
  2. Vacant and Abandoned Calgary Properties
  3. Tenant Occupied Landlord Home Sales
  4. Estate and Probate Home Sales
  5. Divorcing Home Owners Who Want To Sell Fast

Bank Foreclosures and Court Ordered Sales are at the top of the list. People have visions of banks sitting on tons of properties that they are willing to sell cheap. It’s a myth in Canada that banks sell homes cheap. Let’s clear this one up right away. Banks do not sell homes cheap in Canada. If you hear a story of someone buying a home cheap because it was a foreclosure, the real story is it was cheap because that was all it was worth in the condition it was in. Chasing foreclosure deals is like chasing ghosts. Good Luck with that.

Calgary Foreclosures For Sale

Vacant and Abandoned Calgary Properties should be high on the list. Why is the home vacant? Who’s paying the taxes, utilities, insurance and maybe a mortgage while the home sits empty. We know it’s not a bank with deep pockets that can wait forever. Vacant properties have a story. Finding out what the story is can lead to an opportunity to make money when you buy those types of homes. Put vacant properties high on your list.

Abandoned and Vacant Calgary Homes For Sale

Tenant Occupied Landlord Home Sales should not be overlooked. Why is the landlord selling? What’s the story? Is it a bad tenant? Is it a retiring landlord? Is it a couple of owners going in different directions? Finding out why these landlords are selling can present some amazing opportunities. Few landlords have any emotional attachment to these homes. They have usually made lots of money already, so aren’t trying to squeeze every last dime out of it. Overlooking Tenant Occupied Properties in your search for Calgary Real Estate Deals is not a good idea.

Cheap Tenant Occupied Homes For Sale In Calgary

Estate and Probate Home Sales happen because the owner has died. Sometimes they have died of natural causes in the home, most times they have not. Someone or a bunch of people have inherited the property. If it’s on the market it’s because they want the money, not the house. It’s very common for battling siblings to inherit a property and just want it sold quickly. Time is more important than money to some. Estate Sales can be great opportunities to snag a good deal.

Probate and Estate Homes For Sale Today in Calgary

Divorcing Home Owners Who Want To Sell Fast is by far the number 1 opportunity to make money buying a home. Money is always an issue, but so is just getting things wrapped up so both parties can move on with their lives. Ask any seasoned Realtor where the best deals are, it’s always divorces.

Home Sales by Divorced Couple in Calgary Alberta

Read full post

Welcome to "The MLS® Portal"

Reverse The Home Hunting Process - Make Properties Find You - End Online Search Frustration!

MLS Portal for Calgary Real Estate

Welcome to The MLS® Portal, your single access point for MLS® listing information, brought to you by Jerry Charlton

When you arrive at The MLS® Portal, you may find it convenient to save its website address as a favourite or bookmark in your web browser. This will enable you to easily visit The MLS® Portal at any time.

Listing Information is Provided By Jerry Charlton. 

Jerry Charlton may email listing information to you in two ways: manually or automatically. Both types of emails contain a hyperlink which you can click to visit The MLS® Portal and view the listing information Jerry has prepared for you.

  • Manual ("Direct") Emails: Jerry Charlton may personally compile and send MLS® listing information for you. These emails contain a link to The MLS® Portal where these listings are available for you to view. This collection of listings will remain available for you to view on The MLS® Portal for 60 days.
  • Auto Emails: Jerry Charlton may also arrange for you to receive auto emails. These are also personally set up and controlled by Jerry Charlton but dispatched by the MLS® system itself, based on your criteria. Auto emails also contain a link to The MLS® Portal where matching listings are available for you to view. Auto emails will continue to be sent to you until you ask Jerry to stop them or you unsubscribe from the service yourself.

On the Start tab, you'll see links to any Direct Emails and/or Auto Emails Jerry has prepared for you. Click on one of those links to view the associated listings.

For additional MLS® Portal Tutorials and Guides visit the link below:

Customer Portal Video Overview

Customer Portal Quick Start Guide

Read full post

Calgary Home Buyers Getting More Choices Heading Into The Spring Real Estate Market as Sellers Rush Towards the Exit Doors!

106 homes are being sold daily so far in February. That is close to the daily high of April last year. Detached homes account for over 1/2 the daily sales number so far. Attached homes are seeing demand not seen in years with an average of 28 sales per day. That is higher than any month last year. Condo sales are also benefiting from the detached seller's market as daily sales are hitting new highs as well.

Inventory should continue to jump as eager sellers head for the exit doors. Picky and Patient Calgary Home Buyers will be rewarded with more selection soon. Calgary Realtors should also get a bit better at pricing homes which will tighten the spreads between asking and selling prices.

We Offer Free Calgary Home Evaluations With Zero Obligation to Sell

In the charts below you see the % of Listings Sold on a month-to-month basis. A Balanced Calgary Real Estate Market happens around 33%. At 33% we theoretically have three months supply of housing inventory. This means if no new listings came on the market, after three months there would be no houses to buy. Above 33% sales leans towards a Sellers Market because available homes are selling at a faster rate than three months supply. And of course, less than three months or 33% is a home buyers market. Labelling a Real Estate Market can be applied at all levels and within all home types to drill down for more relevant data. These charts start with the Combined Home Types in Calgary, then get divided amongst the major home styles of Detached Homes, Attached Homes & Condos. We can drill down farther to the City of Calgary 4 Quadrants of NW, NE, SW, and SE. Or the 8 MLS® Districts of Calgary. Or down to your community and home type. And then whatever time periods you are interested in. Last 3 years or the last 23 years, we can give you the stats you want to better understand the micro and macro real estate markets in Calgary. Call me anytime Jerry Charlton 403 831 0842 and I will get you the stats that matter most to you.

Calgary Home Inventory on the Rise Going into the Spring Market

Read full post
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.