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7 Easy Ways to Sell Your Home Quicker

There’s a lot of competition in the housing market these days. There are the top 7 secrets revealed by an experienced professional Real Estate Investor



There are bound to be several other similar listings to your home when you put it up for sale. That’s why it is important to make sure that your property is in a good state of repair so that potential buyers get a good impression.

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Power of Sale in Ontario

Power of Sale in Ontario

The power of sale proceedings will be started by the bank  or lender when the property owner is behind mortgage payments, or the mortgage is due in full.

The lender can also exercise power of sale in many other cases. The property can be sold at a fair market value if the lender wants to recover their investment.

Multiple listing services (MLS) are usually where power of sale properties are listed, then they are sold by licensed realtors in Ontario. They are not considered a bargain price, or at a discount. But the lender and bank will sell power of sale properties in Ontario “ as is” and “where is” with no warranties.

What to do when you are facing power of sale? The options are very limited but the rights of property owner and the lender are protected by Ontario mortgage act. Options the property owner has when facing power of sale.

 

Sale by Property OwnerSale by property owner

The property can be sold by the property owner themselves or they can hire a realtor to sell it for them. Usually the property owner will be able to sell and save money if the property is marketed at fair market value.

 

Selling the Property to an InvestorSelling the property to a investor:

TThe property owner can call investors and sell it for cash with fast closing.

This works if the professional real estate investor is able to come up with the cash and close the deal really fast. Sometimes the Ontario lawyers require more time. But the property owner can assist them to gather all information required to close it swiftly.

Lenders Proceedings too QuicklyLenders proceedings too quickly

 

If the Lender or bank issued a Notice of Sale too quickly, the proceedings may be a nullity. This could arise if demands for full payment were made and the time limit in the demand had not expired. In such cases, the mortgagee would require a Court Order allowing the power of sale proceedings to take place.

 

Pay up arrears and costsPay up Arrears and Costs:

 

Most of the time, the Lender or bank will require payment of the entire balance outstanding. Under the Act, the property owner can simply pay up the arrears and costs. If that takes place, then the mortgage is back in good standing. The enforcement proceedings of power of sale are at an end.

 

Pay arrears an d costs in courtPay arrears & costs in  court:

 

In some cases, the Lender or bank will have instituted legal proceedings including an action for recovery of possession of the property. If that is the case, the property owner still has the right to pay up the arrears and costs as well as $100 for security, and the proceedings will be stayed.

 

The accelerated principal need not be paid. If judgment is not been recovered, the action will be dismissed. If judgment has been recovered, the proceedings in the action will be stayed provided that “no sale or recovery of possession of the land

or final foreclosure of the equity of redemption has taken place.”

 

RefinancingRefinancing

This is very common recommendation by Ontario mortgage brokers and their agents. Low income/credit score/arrears/equity can be challenging to refinance. Banks and other lenders may not consider since the property owners are facing power of sale in Ontario.

Canadian hard money lendersCanadian hard money lenders

There are handful Canadian hard money lenders who might be able to assist the property owner who is facing power of sale in Ontario. Their rates and fees can be quite hefty. They can be a short term solution.

Findinf a Partner Joint VentureFinding a partner/Joint venture:

The property owner who is going through the proceedings of power of sale in Ontario can find a joint venture partner. The joint venture partner can inject some cash for partial ownership. This strategy requires expertise and great amount of knowledge.

 

 

 

Request for InformationRequest for Information:

 

The property owner is entitled to certain information from the lender or bank including the amount of the accelerated principal. Upon receipt of the request, the lender or bank is obligated to respond within 15 days, failing which no further proceedings may be taken.

 

If the lender or bank fails to respond without a reasonable excuse or, if the response is incomplete or incorrect, any rights that the lender or bank may have to enforce the mortgage shall be suspended until the lender or bank has complied.

 

Requisition an assignmentRequisition an Assignment:

 

The property owner as well as all other creditors is entitled to an assignment of the mortgage upon payment in full of the principal, interest and expenses. The right in favor of each party is separate and independent of one another. The lender or bank is obligated to reply and comply with such requests.

Technical IssuesTechnical Issues:

 

The power of sale notice must comply with the contract and the Act. If there are any technical or legal issues they should be raised at once and rectified by the lender or bank. Courts will usually respond to such issues and deal with the matter equitably. The property owner might be awarded costs and additional time to pay.

 

Injunction by CourtsInjunction by courts:

 

On fair and equitable grounds the property owner will be awarded an injunction by the courts. This stops the proceedings of power of sale. One condition is the mortgage payments must be kept up to date until final disposition. This will not work if the property owner has no hope of refinancing.

 

Partial PaymentPartial Payments:

 

In many cases, the property owner will have made a partial payment. This frequently occurs without the active participation of either party. The lender or bank issues the Notice, and the mortgagor’s regular cheque is cashed. This means that the proceedings will have to start over again unless the lender or bank specifically indicates that it will accept the cheque as a “partial payment only”, without staying its proceedings.

 

Cost of Power of sale proceedingsCost of Power of sale proceedings:

 

The Act requires the lender or bank to set out its costs being claimed in the power of sale proceedings. Failure to do so can result in delay, or the Court failing to award costs. These are some of the steps that might be taken by the property owner can exercise their right to protect.

 

Seek legal opinion in writingSeek legal opinion in writing

 

The property owner shall always seek the legal help. When a property owner is facing power of sale in Ontario, one of the best options is seek legal advice in writing from a competent Ontario real estate lawyer.

 

Number one Way to Make Money in Real Estate

Number one Way to Make Money in Real Estate

 

Flipping before closing

Number one Way to Make Money in Real Estate Wholesaling is when you wholesale a fixer upper property to a rehabber. Purchase a property no more than 30-60% of its value. LIVE training will teach you to buy deep discounted Canadian real estate properties. Traditional wholesale deal will allow you to find a cash buyer to assign. Properties that need major repairs are great for builders and renovators.

Wholesale real estate

When you wholesale a property subject-to due diligence for 30 banking days it is called a pretty house. Subject-to subject gives professional real estate investors the chance specialize in purchasing properties. Investors cash will never be used as well as your credit. However, in order to purchase a property, you should get at least 40 % discount for the back end profit. The real estate investment is a numbers game.

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Top 10 Warren Buffett Quotes For Canadian Real Estate Investors 

 

Top 10 Warren Buffett Quotes For Canadian Real Estate Investors  Expert advise is always sought after by Canadian Real Estate Investors Training and apprenticeship is needed to succeed in Canadian Real Estate investing.

Here are the top 10 Warren Buffett quotes

for Canadian real estate investors. We have broken it down so that everyone can understand how to invest in Canadian Real Estate Investing.You are guaranteed to succeed in Canadian real Estate investing with the willingness to follow  directions from the experienced in the field.

Top 10 Warren Buffett Quotes For Canadian Real Estate Investors“Our favorite holding period is forever.”To build true long-term wealth, you must acquire for long term investment for passive income to build wealth.

“Risk comes from not knowing what you’re doing.”Canadian real estate investors who are speculators and gamblers will be doing risky investments.

“I always knew I was going to be rich. I don’t think I ever doubted it for a minute.”Canadian real estate investors must have mindset to stay invested in real estate for long term basis”

“Let blockheads read what blockheads wrote.”Generally, nay-sayers are considered pessimists want to be Canadian real estate investors who say “nay” to everything including training, education and coaching.

“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.  Despite the economic fluctuations, one must think long term when it comes to Canadian Real Estate Investing.

It creates a flood of motivated panic sellers. Canadian real estate investor knows how to buy low and sell high.

Top 10 Warren Buffett Quotes For Canadian Real Estate Investors “Only when the tide goes out do you discover who’s been swimming naked.”Keep learning from Canadian real estate experts new investing techniques so that you can adapt to a changing market.

“I will tell you how to become rich. Close the doors. Must know how to be opportunistic.  Be greedy when others are fearful.”Greed is for speculators.Always buy it at deep discounted Canadian real estate. Don’t follow the crowd.

“Never count on making a good sale. When bargaining for investment property ensure you are getting the best deal ”If you’re concerned that you cannot sell the property for full value, then buy it at lower – at about 60% of value – and sell lower – at about 90% of its current market value.

“We will reject interesting opportunities rather than over-leverage our balance sheet.”Sometimes the best Canadian real estate deals are the ones you don’t make.

Top 10 Warren Buffett Quotes For Canadian Real Estate Investors  “A public-opinion poll is no substitute for thought.”Only a handful of Canadian real estate investors know the specific techniques for profiting in any market and that’s because they have invested in real estate investment training and apprenticeship.

REI Club for Canadian Investors

Being part of a Networking group (PREIG) Professional Real Estate Investors will ensure that you are on top on the information you need to succeed Real Estate investing.

“The most important quality for an investor is temperament, not intellect… You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”Don’t worry what the masses are doing.

Utilize the proven techniques by the experts in the field to duplicate their results.“I really like my life. I’ve arranged my life so that I can do what I want.”Remember, that’s what Canadian real estate investing is all about.You eventually want to live your life the way you want it to be.

Cash Buyers for your House,please call

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P.S. Success isn’t a matter of chance, it’s a matter of choice. So it’s up to you to make the right choice to become successful. If you don’t know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now and making sure you make the right choice to SHOW UP!!! Learn more to earn more!

Are you a Canadian real estate Investor? Join Canada’s largest real estate investors club now.

Top 10 Warren Buffett Quotes For Canadian Real Estate Investors

9 Preventable Mistakes Made By Canadian Real Estate Investors

9 Preventable Mistakes Made By Canadian Real Estate Investors

As a Canadian  Real Estate investor and mentor, I often see novice Canadian Real Estate investors making the same exact mistakes. I created this list to help them realize what these common mistakes are and how to avoid them.

The good news is that all of these mistakes can be easily corrected.

The bad news is that any one of these mistakes will seriously limit your potential for success. In my experience, these are the 9 most common mistakes I see novice real estate investors make:

Continue reading 9 Preventable Mistakes Made By Canadian Real Estate Investors

Best time to invest in Canadian real estate

Best time to invest in Canadian real estate

Canadian professional real estate investors learn during the apprenticeship some hardcore facts about Canadian real estate investments. Buying and selling requires some insight to be profitable. Since spring and summer months are notoriously the best time to sell real estate in Canada, fall and winter may be the ideal months to buy real estate.

Best time to invest in Canadian real estate 1. Fewer buyers are in the market – less competitionBest time to invest in Canadian real estate

Competition for houses drops off in the fall in Canada, a time when most people consider it to be off-season in real estate. But there are still homes for sale – and in some cases, there’s just as much inventory as there was during the spring and summer. Fall means new inventory and repositioned old inventory that did not sell in the prime season.

This puts Canadian professional real estate investors at a great position to negotiate. Fall Canadian professional real estate investors should consider making aggressive offers, followed by more aggressive negotiation. Many panic sellers are motivated to sell before the holidays. If possible, Canadian professional real estate investors should let these sellers know that they can close before Thanksgiving or before the school winter break.

Best time to invest in Canadian real estate 2. Greedy sellers can be tired and frustrated

Some greedy property sellers who put their homes on the market during the prime selling times of spring and summer might have been overconfident by listing their homes for more than buyers were willing to spend. After months of little or no action, these tired and frustrated property sellers are often ready to make a deal.

Canadian property owners who were unrealistic earlier in the year about price will now be more willing to reduce the price come fall. Because there are fewer buyers and because the property owners are now eager to sell, they are more inclined to take the lower offer than wait another six months for spring to come around.

3. Sellers become more seriousBest time to invest in Canadian real estate

Not all homes on the market in fall are summer leftovers. Some Canadian home owners need to sell in the fall because the timing is right. Maybe they were having a home built and it’s now ready. Maybe they need to move because of a job. The sellers with houses on the market in the fall tend to be serious. That means sellers could be more open to negotiating and accepting a reasonable offer.

Best time to invest in Canadian real estate4. Fall is a better time of year to buy Canadian real estate

Waiting until the fall (to buy) gives you an advantage when learning about a home and the neighborhood. You’ll be settled in your home and can take precautions – like setting up that new alarm system.

5. You’re the center of attention

Because spring and summer are ideal times to buy a home, realtors are usually busier then. And that could mean you might not always get the attention you want. This is also true for other professionals you’re working with to buy a house. Service providers, such as mortgage lenders and real estate professionals, can often respond more quickly since the summertime crazy market has slowed down.

The same goes for movers. Because summer is peak moving season, Canadians often experience more delays and service issues, such as moving companies reaching capacity and running out of trucks to pick up shipments. The probability of experiencing a delay goes way down in the fall season.

Best time to invest in Canadian real estate 6. You can take advantage of end-of-year sales to outfit your home

More than likely you will be making improvements to your new home after your purchase. Most likely you will need to buy items to maintain your home, and if appliances did not convey with your purchase, you will need to buy those as well.

Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need? September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November. November is also a great time to take advantage of retailer holiday sales items, which seem to be abundant that time of year.

The best advice is to learn from fellow Canadian real estate experts with decades of experience and proven results.

Always learn from a Canadian real estate investment expert with proven results before investing in Canadian real estate.

We are sincerely devoted to helping you create wealth for life with spectacular results in Canadian real estate investments.

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Best time to invest in Canadian real estate

How to Become a Successful Full Time Real Estate Investor

How to Become a Successful Full Time Real Estate Investor

How to Become a Successful Full Time Real Estate Investor Both rookies and veteran real estate investors need to implement new strategies and tactics to improve their business and be successful. There is always a way to sharpen your skills to create more success. Goal Setting is one of the most necessary components of success.

Did you know 95% of people in this world do not set goals? #1
It is shocking to know most people do not have any kind of written goals. Some people just let the world push them around, instead of setting goals and going where they want to go. They may be in a job they had no intention of getting, but are there for years; they may be in a relationship that they had no intention of being in, but are in it for years because it is easy. Now, I don’t want to sound like Dr. Phil here, but my point is if you have no clear, defined goals pertaining to your real estate investing business, you will have an unsuccessful or at best, very average business.

Part of the 5%As a full-time real estate investor, we need to be part of the 5% that have clearly written, defined, tangible goals, that are cast out 20 years, 10 years, 5 years, etc, and then brought down to months, and then weeks.
At that point you need to make daily “to-do” lists which keep you going.

Our goals, as a whole should include financial, relational, personal, spiritual, and educational goals. No one is successful with a vague goal like “I want to make money”, you have to set realistic financial goals that are specific.

Tangible goalsI highly recommend that you have a tangible goal that you can, once achieving it, can touch, can feel, and can be proud of, and money will become a byproduct that comes from achieving that particular goal.

Long term and short term#3
So set goals for yourself that involve a long term plan, and a short term plan, and you will have the incentive to do what is necessary in order to accomplish these goals, and create a wonderful, rewarding, and lucrative business for yourself.

Canadian Wealth Builders offers many unique, practical, out of the box real estate investor trainings which offer the student hands on, in the trenches style instruction. To find out more, please go to www.Flipping4Profit.ca

A Notice to all Wannabe Canadian Real Estate Investors

A Notice to all Wannabe Canadian Real Estate Investors

A Notice to all Wannabe Canadian Real Estate Investors

Investing in Canadian real estate is extremely profitable provided you have taken time to learn from fellow Canadian real estate experts with proven record. Learn creative practical secrets, systems and strategies which can be implemented in Canada by attending Canadian real estate investment strategies apprenticeship. Witnessing a real deal in real time is the best and fastest learning curve.

A Notice to all Wannabe Canadian Real Estate Investors

But here’s the bad news

Most of the Canadian real estate investors have taken the training from outsiders who have never done a deal in Canada. Fancy names, celebrities, Fix & Flip TV show stars have started business of teaching others but hire cheap labor to read the scripts only. Most of Canadians have taken multiple courses spending $20,000 to $80,000 dollars and end up being broke and bankrupt.

We want to encourage you to learn from the Canadian real estate experts and give you a few simple pieces of advice that will make a difference in investing in real estate.

A Notice to all Wannabe Canadian Real Estate InvestorsJoin Professional real estate investors group (PREIG) Canada to start networking with fellow real estate investors. Attend their local networking meetings and other events to mingle with very successful real estate investors. At least meet one person who can add value and assist you to achieve your goal. People don’t do business with strangers. At the end who do you know matters a lot. Start building your connections of your entourages.

A Notice to all Wannabe Canadian Real Estate Investors

You must invest your time and effort to meet local Canadian real estate investors to do joint ventures, seek capital or partnership and flip deals.

A Notice to all Wannabe Canadian Real Estate InvestorsBe a bird dog

that can give you a head start. Start paying lot of attention around you and you may find lot of panic sellers and anxious buyers. You can refer them to an experienced Canadian real estate investor and watch how the deal works. Good thing is you will get a small token fee.

Be a volunteer at REI club; Professional real estate investors group (PREIG) Canada have several volunteer positions. Investing in real estate is lifelong learning process.

Forgivable Canadian real estate grants are available for down payment, upgrading, adding in-law suites, seniors and multi uA Notice to all Wannabe Canadian Real Estate Investorsnits. You might be eligible yourself and can help fellow Canadians too.

Attend LIVE eye witness, boots on the ground real time real deals for accelerated learning. Only experts can show you.

A Notice to all Wannabe Canadian Real Estate Investors

Virgin leads are very important part of Canadian real estate investments. There are more than ten sources which an average Canadian real estate investor has never known.

Ask for the REAL PROOF

before you starts taking any education how to invest in Canadian A Notice to all Wannabe Canadian Real Estate Investorsreal estate. Ask them to show the real deal they have done themselves in Canada. Most of the trainers are snake oil salespeople who can read the script only. They are getting minimum wage and some of them never invested in Canadian real estate.

Build your database

You need to have a special list of following people who are also investing creatively in Canadian real estate in your database.

  1. Canadian private hard money lenders
  2. Canadian cash buyers
  3. Real estate lawyers
  4. Short term private lenders for bridge financing
  5. Joint venture partners
  6. Realtors
  7. Mortgage brokers
  8. Property Inspectors
  9. General contractors
  10. AACI appraisers

Deep discounted Canadian real estate deals are in abundance. Find, fund, fix and flip to make a fortune require training from experts.

Invest and dedicate time and money: One need to invest in themselves which require money, time and dedication. Having access to money is the best secret in Canadian real estate investments.

Action and decision will reflect the success. Having armed with knowledge and access to money requires that you start making offers and start putting deals under contract.

Branding yourself to be a problem solver Canadian real estate investor will attract all kind of deals.

 

Hire a Canadian real estate investment expert coach who have done couple thousand deals in Canada. Most of Canadian real estate investors have taken coaching online which is complete waste.

Investing in Canadian real estate success does not happen overnight, but it requires time and lot of effort.

There are17,000+ members of the Professional real estate investors group (PREIG) Canada community for you every step of the way. Be a part of Professional real estate investors group (PREIG) Canada.

Foreclosure process in Alberta

Foreclosure process in Alberta

Whether you are a Bank, mortgage broker, Canadian real estate investor or a home owner, if you are involved with a mortgage in default, you should know the foreclosure process in Alberta. Alberta foreclosure is the process the lender uses to get the money that you should have paid earlier back if your mortgage loan has been defaulted. Call 1-416-409-7300 for the Alberta foreclosure help you need. We have been serving Canadians in need since 1981. One of the main differences of the foreclosure process in Alberta, compared to other provinces, is that the Master in Chambers of the Court of Queen’s Bench of Alberta decides who the foreclosure property will be sold to, and for what price.

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The hidden costs of selling your property in Canada

The hidden costs of selling your property in Canada

 

Beware; there are the hidden costs of selling your property in Canada you might not know about. Are you been thinking of selling your property and maybe moving into retirement living you’ve been checking out? Selling your property can be a very profitable affair, especially if you have had that piece of property all your life. That means you may have bought it at time when property was not very expensive and could be enjoying the appreciation, which has occurred over the years. However, there are hidden costs of selling your property in Canada involved in selling your property and before you list your property for sale, you might want to check out these costs.

Hidden costs to sell your sell your property in Canada are:

  • Are you going to sell your property through a real estate agent or try selling it on your own? The fee is approximately 6% plus taxes.
  • How much do you estimate it will cost to prepare your property for sale?
  • Do you know what would it cost to pay off your mortgage including penalties, discharge and other charges?
  • Are there any repairs or upgrades you need to do that would help sell your property?
  • Are you going to hire a professional to stage your property?

 

Staging is changing the appearance of your property to make it more appealing to potential buyers—for example, renting furniture for a room.

 

Clutter, Grime, and Odors. Deal with it…
Living in our homes, we get used to things and we like them that way. All the family photos and bowling trophies may be family treasures but to a buyer trying to imagine themselves at home, too much information is a turn-off.

 

Other hidden costs of selling your property in Canada

Closing costs

  • Legal costs
  • Realtors fee plus taxes
  • Insurance cancellation
  • Adjustments (property taxes, utilities, condo fees, etc.)
  • Mortgage  penalties & discharge fees
  • Moving costs
  • Hiring a mover or renting a truck
  • Packing materials
  • Hotel costs, if required
  • Disposing of Junk

Mortgage Penaltyb1

The prepayment charge for a closed, fixed-rate mortgage is usually the greater of:

  • three months’ interest on the outstanding balance of your mortgage, or
  • the interest rate differential (IRD): an amount based on the difference between two interest rates. The first is the interest rate for your existing mortgage term. The second is today’s interest rate for a term that is similar in length to the time remaining on your existing term. For example, if you have three years left on a five-year term, your lender would use the interest rate it is currently offering for a three-year term to determine the second rate for comparison in the calculation.

The hidden costs of selling your property in Canada Mandatory Repairs

When you’re selling your property, especially if it’s an old one, chances are there are many things that need to be repaired or replaced. Perhaps that 1990s toilet needs to be revamped or the kitchen cabinets need to be changed. It’s easy to get carried away with repairs. Think about it, you’re finally getting around to all of those things that you were meaning to get done over the years. The list could include light switches, dimmers, painting, re-grouting, and while they sound small, it’s these little things that can easily turn into thousands of dollars, especially if you’re hiring an expert to do that for you.

What you need to do is to pay attention to the repairs that have a major visual impact and would affect the property value. For example, a new kitchen would excite buyers more than new room carpets.

At the end of the day, the more prepared you are, the smoother the process and the less expenses you will incur. It all comes down to clear thinking and a few calculations, to make sure the cost of selling isn’t eating too far into your well-earned capital.

 

Failing to Complete Disclosures. CAVEAT EMPTOR, BABY!
Being upfront about any issues with your home will save you time, money and face. You may not want to mention the time the firetrucks showed up or the time you flooded the basement.

When do you report a capital gain or loss?

Report the disposition of capital property in the calendar year (January to December) you sell, or are considered to have sold, the property.

Note

Regardless of whether or not the sale of a capital property results in a capital gain or loss, you have to file an income tax and benefit return to report the transaction (even if you do not have to pay tax). This rule also applies when you report the taxable part of any capital gains reserve you deducted in 2014.

  • A donation of securities to a registered charity or private foundation does not trigger a capital gain.

·         If you sell an asset for a capital gain but do not expect to receive the money right away, you may be able to claim a reserve or defer the capital gain until a later time.

The hidden costs of selling your property in Canada Reporting the sale of your principal residence to Canada Revenue Agency (taxman)The hidden costs of selling your property in Canada

When you sell your principal residence or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if you are eligible for the full income tax exemption (principal residence exemption) because the property was your principal residence for every year you owned it.

Starting with the 2016 tax year, generally due by late April 2017, you will be required to report basic information (date of acquisition, proceeds of disposition and description of the property) on your income tax and benefit return when you sell your principal residence to claim the full principal residence exemption.

Are you aware of hidden costs of selling your property in Canada? What other costs should you be aware of when looking to sell? Have you sold your property in the last 5 years? We buy houses for cash with fast closing.