Larry started his real estate investing career in the early 1980’s while he was still in his twenties and attending University. He has extensive experience in all aspects of real estate investing including various forms of residential rental real estate as well as various forms of commercial real estate, including warehousing and Industrial complexes. Recently he’s been concentrating more on investment placement and management for his real estate investors. He concentrates on projects that will give his investors significant and consistent returns regardless of the current market conditions.
His experience in the single-family residential area began as most people’s experience begins, that’s with small houses and condos. He started out by buying individual housing units. He also started with some small Condominiums as well. He concentrated on all aspects of managing those properties including finding new tenants, property management, and eventually reselling the properties when the market was higher than it was when he bought them. At one point he started to specialize in small rental Condominiums. He found a great deal on the MLS that was listed by a realtor that specialized in this area. After he bought the first unit from this realtor, they struck a bond together and then whenever that Realtor had a unit that fulfilled Larry’s criteria, the agent would call Larry directly rather than listing the unit for sale to the public. The realtor knew that after he gave Larry the pertinent information he would have a yes or no answer on that same phone call. This resulted in Larry obtaining 10 Condominiums within the same high rise condo complex, and resulted in Larry owning approximately 15 percent of the entire complex. He then sat as president on the condo board and was able to effectively control the whole complex.
Larry also was able to obtain bank foreclosures directly from the bank because of the good banking relationships that he had established. An example of this is a 15 unit condominium complex that he obtained from the bank as a result of a foreclosure. He was actually able to get the foreclosing bank to fund his purchase of the property. He managed that property for a number of years and then finally resold the units individually for a substantial profit. Larry also has experience with purchase, management, and sale of small apartment buildings as well. He started off with small 8 and 15 unit apartment buildings that were actually not in his local area but were located in small residential communities around the Edmonton area. This gave him extensive training in dealing with long-distance management of commercial Residential Properties.
Larry has extensive experience in the area of true commercial properties such as warehousing and Industrial complexes. With these types of properties Larry was able to gain experience in commercial Leasing and negotiation techniques. He has experience in this type of commercial properties both as an investor and as an end user. He currently owns a number of Commercial Warehouse buildings that are being used for his auction company business as well as other businesses.
In one case he purchased a warehouse property for use in his auction business; however he quickly realized that the property would generate more cash flow by being rented out to a local trucking company. A couple of years later he then sold that property to a competing trucking company for a significant profit.
Now Larry is now more concerned about investment management and purchasing properties and managing them for his investors. He specializes in two forms of investor participation in his projects. The type of investor participation in his real estate projects is determined by the needs of the investor.
If an investor is concerned mostly with cash flow from his Investments then a Mortgage Investment or cash flow property is the investment of choice. This type of investment gives Larry’s investors consistent cash flow over extended periods of time regardless of what is happening in the markets and is not dependent on a property being sold any time in the future. This type of investment is particularly suited to investors that need to live of the cash flow from their investments, such as retirement funds. Whether it is retirement funds or straight cash, Larry always has these types of investments available to place investor funds into.
The second form of investment Larry participates in with his investors is in the form of equity or a joint venture partnership. In this type of investment the investor is effectively part owner of the property. In this case, there is generally no cash flow to the investor during the time of the investment however the investor does participate in the equity appreciation of the property and sees significant returns when the property is eventually sold. This type of investment is more suited to the investor that simply wants to park his capital for a period of time and is not dependent on the cash flow from the investment. The returns on this type of investment are generally higher than the mortgage investments, but take longer to realize.
Because of his vast experience in the real estate and investment Industries Larry is always willing to talk to anybody about investing in real estate. If you have available cash and are ready to make an investment please contact him directly.