Tag Archives: Canadian real estate investing secrets

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

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

Mortgage Jargon – Part 3

Mortgage Jargon – Part 3

If you missed the previous article – Mortgage Jargon – Part 2

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 3

Mortgage Jargon – Part 1

Mortgage Jargon – Part 1

As a full time real estate investor, we will be getting a number of mortgages during our career.  It is best that we understand all of the mortgage jargon in order to fully understand our mortgage brokers, bankers, lenders, etc., not to mention the contracts we will be signing.

Continue reading Mortgage Jargon – Part 1

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

 

Your success is our business!
Navtaj Chandhoke
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Foreclosure Process in Alberta Part 1

Foreclosure Process in Alberta Part 1

As a full-time Canadian real estate investor, we must create many ways of doing deals and making money. We need to create massive and passive income for ourselves that occur on a regular basis. If you are one of those real estate investors that is relying on one or two real estate agents to bring you deals, then you will indeed starve to death.

Continue reading Foreclosure Process in Alberta Part 1

Detecting Mortgage Fraud – Part 2

Detecting Mortgage Fraud – Part 2

If you missed the previous article – Detecting Mortgage Fraud – Part 1

As a full time Canadian real estate investor, we will be exposed to many deals, both good and bad. Sometimes deals that turn out to be bad or possibly collapse at the last minute may be due to mortgage fraud. Both the veteran and the newbie real estate investor should be aware of  some common frauds that happen in the real estate investing business. Sadly, there are  dishonest people in every business that find ways to manipulate in order to profit.

Continue reading Detecting Mortgage Fraud – Part 2

Database Building – Part 3

Database Building – Part 3

If you missed the previous article – Database Building – Part 2

As a full-time Canadian real estate investor, we need to make the most from our time and learn not to waste time. We need to be doing important work such as creating more deals to increase our massive and passive income. In our training apprenticeships, one of the areas of focus is proper building of database.

Continue reading Database Building – Part 3