Latest Macguire Podcast Episodes
Secondary Suites and Real Property Reports in Alberta
Tales from the Trenches - October 01, 2017 19:38 - 3 minutes ★★★ - 2 ratingsPodcast Episode 106. Are you looking to buy a property with a secondary suite? Ideally, you want to buy properties with legal secondary suites. But guess what? A Real Property Report doesn't prove a suite's legality in Alberta.
Wills, Estates, and Selling Property
Tales from the Trenches - August 29, 2017 18:47 - 8 minutes ★★★ - 2 ratingsPodcast Episode 105. For a quick review, probate is the process whereby an executor of a Will, usually through a lawyer, makes application to the Probate Court here in Alberta for what is known as a Grant of Probate. The application process involves the executor gathering in all the assets of the...
Guarantees, Title Insurance, and New Legal Precedent in Canada
Tales from the Trenches - August 22, 2017 21:41 - 12 minutes ★★★ - 2 ratingsPodcast Episode 104: “Sellers, Are You Guaranteeing Title?” Wow, a recent bombshell of a legal case from the Ontario Court of Appeal is causing huge ripples in the Canadian real estate world. In the Courts and in the world of precedent there is a pecking order. The Supreme Court of Canada is the ...
Rare Investing Opportunities with Creative Real Estate Strategies
Tales from the Trenches - August 15, 2017 19:02 - 8 minutes ★★★ - 2 ratingsPodcast Episode 103: “Unpredictable Seller Motivation And Agreement For Sale Magic.” An investor recently showed up in my Edmonton law office with this absolutely marvellous Tale about a unique property seller in Alberta and the magic of having the right real estate investing strategy for the j...
Struck Corporations, Land Titles, and Tax in Alberta
Tales from the Trenches - August 06, 2017 19:03 - 11 minutes ★★★ - 2 ratingsPodcast Episode 102: “Corporate Matters Matter.” My law firm in Edmonton, Alberta is the corporate registered office for many corporations. We get lots of letters addressed to those corporations because that’s part of being registered office. Anyone who wants to send something official to a corpo...
Legal Suites and Airport Vicinity Protection Areas in Alberta
Tales from the Trenches - August 01, 2017 16:51 - 7 minutes ★★★ - 2 ratingsPodcast Episode 101. Houses with legal suites or houses zoned for legal suites are all the rage in Alberta. Easier to do in Edmonton, though. In Calgary, secondary suites are only allowed in certain areas.
Success with Buy and Hold Real Estate Investing
Tales from the Trenches - July 02, 2017 16:03 - 12 minutes ★★★ - 2 ratingsPodcast Episode 100: “A Tale of Real Estate Investing Success.” I’ve been doing Tales from the Trenches for 15 years. These are amazing stories from real estate investors, mostly from Alberta, Canada because that’s where I practice law. Tales began as a segment during meetings of the Real Estate ...
Assuming Mortgages and Transfering Property to a Corporation
Tales from the Trenches - June 12, 2017 16:36 - 6 minutes ★★★ - 2 ratingsPodcast Episode 99: “Happy Assumptions & Corporate Rollovers.“ This episode of Tales from the Trenches contains two stories about transfers: one is about transferring mortgages and the other is about transferring property. In theory, many mortgages are assumable, but in practice lenders in Albert...
Disappearing Tenants and Vanishing Buyers
Tales from the Trenches - May 04, 2017 21:40 - 5 minutes ★★★ - 2 ratingsPodcast Episode 98: “Don’t Wait, It Only Gets Worse; Discharge That Caveat.“ The first part of this Tale is about an Alberta landlord with tenant problems. The renter usually paid on-time, but then the rent started coming late. The tenant’s girlfriend left him, and when our landlord went to check...
How to Avoid Mortgage Fraud
Tales from the Trenches - April 27, 2017 21:18 - 7 minutes ★★★ - 2 ratingsPodcast Episode 97: “Mortgage Fraud.“ The simplest way to avoid committing mortgage fraud is to fully disclose everything about a deal to your lender. If they are satisfied, then you’re probably okay. But what happens if someone else is defrauding you? In Tales from the Trenches, you usually hear...
Interest Rates on RRSP Mortgages
Tales from the Trenches - April 06, 2017 14:44 - 3 minutes ★★★ - 2 ratingsPodcast Episode 96: “RRSP Mortgages.“ In Canada, it is possible to use money held in a Registered Retirement Savings Plan (RRSP) to fund mortgages. While this strategy can yield a nice steady return on investment, there are rules in place that can make it a bit tricky to get into. One of those ru...
Due Diligence Fails
Tales from the Trenches - March 30, 2017 15:57 - 6 minutes ★★★ - 2 ratingsPodcast Episode 95: “A Couple on Due Diligence“ I talk a lot about due diligence because it is one of the most important aspects of achieving success with real estate. This is a two-part Tale, showing a couple different examples of problems to look out for when doing one’s due diligence. The firs...
Removing Conditions on Purchase Contract
Tales from the Trenches - March 01, 2017 16:55 - 5 minutes ★★★ - 2 ratingsPodcast Episode 94: “Removing Conditions—Should I or Shouldn’t I?“ Conditions on a real estate purchase contract should only be removed once the due diligence is complete. But what if the conditions are sort of met, but not completely? Should you still remove conditions if the property seems good...
Property Inspections, Reports, and Permits
Tales from the Trenches - February 18, 2017 16:00 - 5 minutes ★★★ - 2 ratingsPodcast Episode 93: “Inspection Reports & Multi-family Diligence.” Under Alberta’s Residential Tenancies Act, an inspection report must be made whenever a tenant moves into, or out of, a rental property. But what happens if you buy a property and can’t get the in/out report? Similarly, building ...
Joint Ventures, RRSP Mortgages, Due Diligence, & More!
Tales from the Trenches - February 02, 2017 17:38 - 7 minutes ★★★ - 2 ratingsPodcast Episode 92: “A Few Quick Tales.” Here’s some great stories about people buying and selling real estate in Alberta. These five quick Tales from the Trenches are short, but they show a wide range of different issues, problems, and successes. In a joint venture, it’s always nice when a more ...
Giving Keys to a Buyer and Fixed Cash Deals
Tales from the Trenches - January 26, 2017 20:00 - 3 minutes ★★★ - 2 ratingsPodcast Episode 91: “Keys & Cash.” Here are two quick Tales from the Trenches: 1) tips on keeping a property buyer motivated and 2) contract language to fix the cash portion of a real estate deal. Our first Tale shows one reason why a real estate deal can close late. Even when investors have good...
When to Remove Conditions on a Purchase Contract
Tales from the Trenches - January 13, 2017 17:00 - 4 minutes ★★★ - 2 ratingsPodcast Episode 90: “Diligence Pays Off.” I’ve said it before and I’ll say it again: when you’re buying a property, never remove conditions on the purchase contract until you’ve done due diligence. A real estate lawyer like me can protect your interests and help you negotiate a better deal, but I...
Transferring Property Without a Lawyer
Tales from the Trenches - December 21, 2016 20:23 - 3 minutes ★★★ - 2 ratingsPodcast Episode 89: “Transfer of Land.” A Transfer of Land is a document that allows the Land Titles office to register a property in the name of a new owner. In rare circumstances, you might be able to get this done without seeing a lawyer. In this Tale, our investor got a Transfer of Land … Con...
Tenant Running Illegal Business
Tales from the Trenches - December 16, 2016 16:51 - 2 minutes ★★★ - 2 ratingsPodcast Episode 88: “I Ain’t No Ho!” As a landlord, you need to be proactive about what is happening with your tenants. Be concerned if you suspect that a renter may be running an illegal business out of your property! This Tale is short and sweet because our investor took action as soon as they ...
Mortgage Penalties
Tales from the Trenches - December 07, 2016 18:00 - 4 minutes ★★★ - 2 ratingsPodcast Episode 87: “Fun with Mortgage Payout Math.” Paying off a mortgage early can result in penalties. However, there are ways of minimizing the financial repercussions. In this Tale, Barry works through some mortgage math that could save you money. Download the audio file HERE. (control click...
Personal Responsibility in Cooperative Investing
Tales from the Trenches - November 30, 2016 15:00 - 5 minutes ★★★ - 2 ratingsPodcast Episode 86: “Joint Venture Blues.” Partnering up can be a good way to buy more property, but you still have to be careful. As with everything in real estate, due diligence is essential in joint ventures. In this Tale, you’ll hear about the all-too-common mistake of not getting an inspecti...
Getting Payments through a Trustee
Tales from the Trenches - November 23, 2016 17:30 - 6 minutes ★★★ - 2 ratingsPodcast Episode 85: “Hurry Up and Wait.” When dealing with trustees or lenders, there are many things that can delay a transaction. The type of payment can trigger a processing hold, the shipping method can be slow or unreliable, and sometimes clerks just overlook things. If you need a certain re...
Advantages of Investing in Property
Tales from the Trenches - October 04, 2016 17:00 - 9 minutes ★★★ - 2 ratingsPodcast Episode 84: “Why the Ultra-Rich Like Real Estate.” Investing has its ups and downs. Real estate has some definite advantages in smoothing out the bumps. Ultra-rich people usually have some properties in their investment portfolios in order balance out the volatilities of stocks. Even if y...
Lead Pipes in Older Homes
Tales from the Trenches - September 28, 2016 15:00 - 8 minutes ★★★ - 2 ratingsPodcast Episode 83: “Lead Isn’t Dead.” Lead pipes are a very real risk with older houses; it’s a toxic metal and can make the water unsafe to drink. In this Tale, my client was given notice by her water utility provider that her rental property might have lead pipes. She took lengths to protect h...
When to Walk Away from a Real Estate Deal
Tales from the Trenches - September 01, 2016 18:20 - 16 minutes ★★★ - 2 ratingsPodcast Episode 82: “Diligence Time Bombs And Letters Of Intent.” When trying out a new real estate investment strategy, it’s important to know when to walk away. In this Tale, an attendee of one of my creative investing workshops was ready to try an Agreement for Sale, and contacted me for help ...
Buying Property Without a Bank
Tales from the Trenches - July 21, 2016 16:20 - 12 minutes ★★★ - 2 ratingsPodcast Episode 81: “Agreements for Sale 2.” I introduced Agreements for Sale (AFS) in a previous blog post and podcast, and now it’s time to review with a bunch more examples. In essence, AFS is a type of seller financing and is sometimes called a bond for title or contract for deed. The seller ...
What is Rent-to-Own?
Tales from the Trenches - July 14, 2016 16:02 - 7 minutes ★★★ - 2 ratingsPodcast Episode 80: “Rent-to-Own.” Rent-to-Own (abbreviated as RTO and often interchangeably called a Lease-Option) is a two-part strategy. You start with a lease (the ‘Rent’ part) and add an option to purchase (the ‘Own’ part). In a Rent-to-Own scenario, the renter is, for some reason, unable to...
Creative Investing
Tales from the Trenches - July 08, 2016 22:31 - 2 minutes ★★★ - 2 ratingsPodcast Episode 79: “Creative Real Estate Strategies.” What is Creative Real Estate Investing? It is a method for making money with real estate that uses strategies like Rent-to-Own, Agreements for Sale, and Wholesaling, among others. This is an area not too many people know about, but it offers ...
Assignments: Clever Investment Strategy or Malicious Shadow Flipping?
Tales from the Trenches - July 01, 2016 16:00 - 18 minutes ★★★ - 2 ratingsPodcast Episode 78: “Contract Assignments.” The practice of selling one’s interest in a real estate purchase contract—a.k.a. an assignment—has been getting a lot of bad press in BC lately. In fact, the situation there may be changing thanks to government intervention. Contract assignments are a w...
Title Insurance
Tales from the Trenches - June 23, 2016 20:13 - 5 minutes ★★★ - 2 ratingsPodcast Episode 77: “Is Title Insurance Worth It?“ In Western Canada, title insurance was created to cover problems with real property reports, but did you know that it also covers many other issues? In this Tale, we have a case where the lender got title insurance, but the buyer/homeowner did no...