Closing the Deal – Part 2- Unforeseen Costs

As a full time Canadian real estate investor, we must be creating massive and passive income by facilitating many types of deals. We have to fully understand the scope of every deal, have the capability to analyze it fully and make informed decisions as to the proper exit strategy.

Whether we are purchasing a property for ourselves, for a joint venture project or have the property under contract to assign, we must be able to outline all potential expenses pertaining to the acquisition. Closing costs are a necessary part of the expenses.

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Becoming a Successful Full Time Real Estate Investor

Becoming a Successful Full Time Real Estate Investor

This is  a continuation of “Becoming a successful Full Time Real Estate Investor.”

Becoming a full time real estate investor means creating opportunities for ourselves on a regular basis to build massive and passive income for ourselves, just like a regular business would.We need to set it up so we can get paid on a regular basis.

We need to do things differently than what amateur “conventional” minded real estate investors do. From my experience, the average real estate investor uses his/her own money for every stage of a property purchase. They continue to put money into a property that is being used for the typical uses such as flipping that property or holding that property for appreciation. Both these “strategies” end up buying us a job in becoming a landlord or a renovator, and both take way too much time!

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Becoming a Successful Full Time Real Estate Investor

Becoming a Successful Full Time Real Estate Investor

 

This is a continuation of  Becoming a Successful  Full Time Real Estate Investor – Setting goals

In order to be successful, both the rookie real estate investor as well as the veteran needs to continue to implement strategies to improve their business. There is always a way to sharpen your skills to create more success.  One of those necessary implementations is goal setting.

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Three Tips for Millionaire Networking

Three Tips for Millionaire Networking

As a full-time Canadian real estate investor we must do all we can in order to drive business towards us. This goes far beyond waiting for a realtor to bring us a list of properties that are deemed “good deals” in their mind. As an entrepreneur, we must be making massive and passive income in order to create a  successful  full time real estate investing business.

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The Suicide Clause

The Suicide Clause

As a full-time Canadian real estate investor, we must be very aware of the types of mortgages that we take. During our time as an investor, we will  do deals where we do not take the mortgage ourselves. In other words, we may joint venture with someone who does the qualifying. We will, however, be doing deals where we do have to get a mortgage.

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Mortgage Jargon – Part 5

Mortgage Jargon – Part 5

If you missed the previous article – Mortgage Jargon – Part 4

We will continue in our series of Mortgage jargon. As full time Canadian real estate investors, we need to utilize the following definitions as part of our everyday language.

Estopple Certificate

This is a document that outlines the legal and financial state of a condominium corporation. When a condominium corporation is formed, and goes on for a period of years, they have certain legal outlines and an annual (if not monthly) financial statement that is created by its members. If you are getting into purchasing a condominium project, you must understand the state of it financially and legally by getting an Estopple certificate.

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Becoming a Full Time Real Estate Investor

This article is a continuation in the series “Becoming a full time real estate investor

As a full time Canadian real estate investor, we need to everything we can to create  business for ourselves that is outside of the conventional method of buying a property. This typically is purchasing property with our own money witch includes an exit strategy of either becoming a landlord or fixing property up and selling it. This is buying yourself a part time job which usually includes a full time job time requirement.

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The Benefits of a Real Estate Coach / Mentor

Becoming a full-time Canadian real estate investor is not something one should take lightly.  The amateur real estate investor will commonly go out and buy a property, make mistake after mistake and end up costing themselves lots of money and time. They will then run from real estate investing thinking that real estate investing doesn’t work.

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