Wins, Lessons Learned & Investment Opportunities—See What We’re Up To!: June's Investor Journey
- Michele Correa
- Jun 2
- 5 min read
Updated: Jun 3
What We’ve Been Up To
May brought growth, challenges, and exciting progress at Correa Equity Partners. Here’s a peek behind the scenes:
Edmonton Project Highlights
Flip Project: Finished & For Sale – Wait, Not for Sale?!
We hit a snag on our flip project. After receiving a conditional offer, the buyers were inspecting the property when they noticed a wet carpet in one of the downstairs bedrooms. Yikes!
Upon investigation—ripping up the carpet and removing drywall—we discovered a long crack in the foundation wall. This issue wasn’t caught during the initial inspection or even when our contractor had the basement down to the studs. The timing was unfortunate, and the buyers walked.
We’ve taken the property off the market to address the issue properly. Instead of a quick patch from the inside, we’re going the extra mile to fix the foundation from the outside, including installing proper barriers for long-term durability. The repair team is lined up for this week, and after repairs, we’ll replace the carpet and drywall and relist the property.
Our initial numbers were conservative, so this setback—including repair costs, extra holding fees, and staging fees can be covered from our profits.
Some key lessons from this flip:
Get everything in writing—verbal agreements get lost or forgotten.
Be clear on contracts—don’t assume details like finishing levels or materials.
Involve your designer early—even at the property purchase stage.
Set clear expectations for communication, walkthroughs, and problem-solving.
Clarify contractors capacity- how many projects are on the go and do they have the manpower to handle that
Know your ARV (After Repair Value)—do your own research on top of the information your realtor provides.
Buying and selling are two different skills. Determine if your realtor can do both or if it should be two realtors.
Budget conservatively—surprises are part of the process and it will always cost more in time and money.
Develop systems for property selection, design, project oversight, and final walkthroughs.
Infill #1 – Our Development Permit is Approved!
The utility meters are being removed, and demolition is about to begin! We’re ahead of schedule and excited to get this purpose-built rental project off the ground, providing much-needed housing.
Infill #2 – Gaining Ground
Our Idylwylde infill is progressing quickly. We’re awaiting permits and for our tenant to vacate—once cleared, we’re off to the races.
We’re actively seeking our next flip and infill projects in Edmonton. I’ll be back in Edmonton mid-June for a Trust Your Talent field trip—interested in investing alongside us? Let’s connect!
Renovation Highlight – Our Personal Home
Our personal home renovation is well underway! Demolition is complete, new floors are in, cabinets ordered, and drywall, electrical, and plumbing updates finished. We are over budget and behind schedule however we are very excited about the end result and know it will be worth it.
MVP Mastermind: A Week of Growth in Cancun
I spent a week in Cancun for the MVP Mastermind hosted by Trust Your Talent—and I’m still feeling the energy.
More than 50 entrepreneurs came together to grow in business and in life. We spent 12+ hour days exploring real estate investing, systems, goal setting, and leadership… also fitness, nutrition, sleep, and mindset. It was truly a holistic experience.
Each morning kicked off with 30 minutes of outdoor movement (yes, including a hilarious Baywatch-style slow-mo run!)and was followed by sessions on strategy and growth. I especially loved the smaller breakout groups and the powerful conversations I had with my accountability circle.
Here are some of my takeaways:
It’s time for me to scale smarter—with systems and support
I’m expanding into two new markets—one in the U.S., one in Canada
I’ve committed to my next mentorship to keep up the momentum
The books Buy Back Your Time and Who Not How have been game-changers for me lately, and this mastermind gave me the clarity to take bold action.
What I’m listening to on Audible:
This quick Audible listen flips the usual “save, save, save for retirement” narrative on its head, challenging us to live a richer, more meaningful life now.
Here are my top takeaways:
The Business of Life is the acquisition of memories. You can’t take your money with you, so use it to create experiences and memories while you can enjoy them.
Start Early. Invest in experiences while you’re young—memories compound over time. Plus, some things are best done when you have the energy and health of your 30s, not your 50s or 80s.
Give While It Counts. Don’t just leave everything in a will. Support your kids and loved ones when they need it most—early in life, not when they’re likely at their financial peak.
Know Your Peak Net Worth. There’s a time when you’re in your major earning years. Have a plan to intentionally spend down wealth as you age.
Be Intentional. Don’t live on autopilot. Plan and prioritize the experiences that matter most. Be mindful of your limited time, not just your money.
Your life is the sum of your experiences. Let’s grow a life filled with adventure, memories, and meaning.
Useful Tool of the Month
A friend introduced me to Plaud Note, and I was so excited because it was exactly what I’d been looking for!
Plaud Note is an AI-powered note-taker that records and transcribes everything from your own voice thoughts to Zoom calls, meetings, interviews, and phone calls. It gives you a full transcript or condensed notes, and can even create mind maps.
I’d been searching for a tool to help me capture notes while listening to audiobooks—especially when I’m walking or doing chores. With Plaud Note, I can record key takeaways, and it automatically transcribes them for me. (And of course, I then save them to the appropriate spot in my Evernote system!)
The Plaud Note allows you to be fully present, spend less time taking notes, and capture ideas wherever they arise. Plus, the Plaud Note Pin is a wearable device that offers the same functionality—except it doesn’t record phone calls. I got mine on Amazon and it’s already making my life easier.
Quick Tip -
Find What You Need, Fast
You’ve told us how much you love the tools and tips we share—so we made them easier to access!
Everything we’ve ever recommended, all in one spot.
Have a tip, app, or tool you love? Send it my way—I might feature it in a future issue!
Everything we’ve ever recommended, all in one spot!
Have a must-listen audiobook? Send it my way—I might feature it here!
Let's Stay Connected
That’s a wrap for May! What’s one thing you’re working on in June? Just hit reply—I’d love to hear from you.
Ready to explore investment opportunities with us? Let’s chat about how you can be part of our next project.
We’d love to hear from you!
If making your money work harder for you by investing in real estate without all the hassles is something that interests you, or if you want to partner alongside us and learn as you participate, reach out to us at michele@correaequitypartners.com.
We can discuss your goals and see if we are a fit to work together and invest with purpose.
Comentários