Tag Archives: Canadian real estate investing secrets

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.

Continue reading Closing the Deal – Part 2- Unforeseen Costs

Foreclosure Process in Alberta Part 2

Foreclosure Process in Alberta Part 2

Streams of Income

As a full-time Canadian real estate investor, we must fully understand the foreclosure process in our own province in order to both advise the owners we are helping and to take advantage of the legal processes and time lines to increase our potential streams of income.

We are continuing the article on the Foreclosure process in Alberta. We are up to the point where the lawyer has sent the defaulting owner a demand letter to which there has been no response.

Statement of Claim

The lawyer then issues a statement of claim to the courts. If, at that point, the lawyer does not hear anything, the lawyer searches at the courts to see if there was a statement of defense filed. If not, a notice of default is filed, which is basically saying “this client has defaulted. The mortgage payments were this much, the term was until whenever, the rate of interest was such and such.”

The Order Nisi

The owner will then be summoned to court to appear in front of a judge. At this point, an Order Nisi (order for sale) is filed, and the judge will assign a redemption period based on what the borrower’s chances of paying off this property are.

Redemption Period

The redemption period is typically six months, which means that the owner gets to live in the property without paying for six months(although the mortgage payments, legal fees and interest are still racking up.

This period and the time leading up to this point is a golden opportunity for an investor to get in there, make a deal to take over that property, pay off the arrears, and be able to make some amazing money. In our real estate training we go into this process in great depth.

Order Nisi

Once the Order Nisi is filed, and the mode of sale is ordered by the courts there is still time to help that owner but we have to become even more creative in our strategies. This is why knowledge, skill and education are key in making lots of money in Canadian Foreclosures.

World Wealth Builders offers an intensive 3 day training on Foreclosures in Canada and highlights your province specifically.

In a future article, we will talk about all the advantages that the investor has to be able to capture equity in a property and be able to make tons of money while helping the person that is in trouble at the same time.

Happy investing!

www.WorldWealthBuilders.com/live

P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind.

We have been training Canadian Real Estate Investors since 1993

http://www.canadianwealthbuilders.com/foreclosures-in-canada

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Navtaj Chandhoke
www.CanadianWealthBuilders.com | www.preigCanada.com
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Creating an Entourage of Experts Part 2

To be successful as a full time real estate investor, you will need to create a support team that will help make you rich. We like to call this  your “entourage of experts.” We are continuing in our series.

If you missed the previous article – Creating your Entourage of Experts – Part 1

How many professionals do we need on our team?

The question to be asked is: how many people do we need locally and how many people can we utilize outside of where we live (by that I mean other towns or cities that we are, or plan to do business in).

Continue reading Creating an Entourage of Experts Part 2

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.

Continue reading Becoming a Successful Full Time Real Estate Investor

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.

Continue reading The Suicide Clause

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.

Continue reading Mortgage Jargon – Part 5

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.

Continue reading Becoming a Full Time Real Estate Investor

Mortgage Jargon – Part 4

Mortgage Jargon – Part 4

If you missed the previous article – Mortgage Jargon – Part 3

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.

Continue reading Mortgage Jargon – Part 4

Becoming a Full Time Canadian Real Estate Investor

This is part 2 in “Becoming a full time real estate investor.”

To become a successful full time Canadian real estate investor, we must have a master plan in place. This master plan must outline our goals in terms of acquisitions, financial goals and related time lines.

Continue reading Becoming a Full Time Canadian Real Estate Investor

Keep a Tenant Forever

Keep a Tenant Forever

As a full-time Canadian real estate investor, we are continuously developing systems to improve our business. Throughout your career you will be involved in deals that are both conventional as well as non-conventional. The latter is what really makes what we do a real business. That said, cash flow is an important part of our regular passive income. To receive this we often have to become a landlord.

Continue reading Keep a Tenant Forever