Tag Archives: make money in real estate

How To Establish Property Values In Less Than One Second

How To Establish Property Values In Less Than One Second

As a full time Canadian real estate investor, we may be recieving calls at any time of the day or night from someone responding to our marketing. The call may come from a city where we are unfamiliar about the property values, but we have to be able to make an offer quickly.

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How To Get Rid Of Bad Tenants Part 2

How To Get Rid Of Bad Tenants Part 2

In the last article I spoke about the conventional way of how most landlords take care of tenant defaults or other reasons for eviction. Continue reading How To Get Rid Of Bad Tenants Part 2

How To Get Rid of Bad Tenants Part 1

How To Get Rid of Bad Tenants Part 1

As a full-time Canadian real estate investor, we must do our best to create massive and passive income. This includes driving more and more deals to us from as many sources as possible.

Keep your losses minimal

As a full-time Canadian real estate investor or landlord, we must keep our loses to a minimum. We have only a limited amount of time during each day, and we want to keep our time to work on things that make us money, and staying away from things that create losses and lots of stress for us.

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Automate Your Rent Collection

Automate Your Rent Collection

As a full-time Canadian real estate investor or landlord, you only have enough time in the day, and that time should be spend creating massive and passive income for yourself by acquiring more property and/or making more deals. So having to go and collect rent cheques every month, depending on the amount of your portfolio, can be quite time-consuming. Continue reading Automate Your Rent Collection

Cutting The Cost of Repairs

Cutting The Cost of Repairs

Stay Out of the Repair Business

One of the worst things that a full-time Canadian real estate investor despises is getting calls from tenants for some small insignificant thing  in your unit that needs fixing.

There are ways to be able to alleviate this  and have the tenant want to be responsible for small insignificant repairs and never bother you with them, thus keeping your maintenance to zero. Is this possible?

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How To Pick The Best Tenants

How To Pick The Best Tenants

As a full-time Canadian real estate investor or landlord, we only have enough time in the day to do certain things, and one of them should not be responding to a continuous barrage of tenant problems. We need to utilize our time in creating more massive and passive income for ourselves.

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Detecting Mortgage Fraud – Part 3

Detecting Mortgage Fraud – Part 3

If you missed the previous article – Detecting Mortgage Fraud – Part 2

As a Canadian real estate investor, we will be involved in many deals throughout our careers. It will be just a matter of time before you become aware of  some kind of fraudulent deal. These articles are to make you aware of them so you can run from anything that smells like a fraud or a scam.

Foreclosure rescue scam

A foreclosure rescue scam often begins with a person, "the rescuer",  who promises to pay off the troubled homeowner's delinquent mortgage. They allow the homeowner to then stay in the property and rent it with the option to purchase the property back at a time when their financial situation changes.

As part of the "rescue," the homeowner will be required to give up title to the property to a new buyer who is perhaps an investor coming in to buy this rent to own property, but is  in cahoots with the initial rescuer.

The proceeds of the sale pays off the delinquent mortgage but the new investor also takes out all the equity in the house and is never to be seen again.  The original homeowner is now only a renter in the property they no longer own and are unaware that the investor is not making any payments. When the investor defaults on the mortgage, the original homeowner is ultimately evicted from the property. In the end they have lost both the house and all the equity in it.

Cash back at closing

Another type of  fraud to be aware of is done cash back at closing. A scam artist/seller can ask  much more than the property is worth in order to utilize a cash-back at closing which can be given back to the purchaser.  Most often the  "rebate" (perhaps for repairs) will not be disclosed to the lender. As a result, the borrower gets over-financed for the property, the buyer pockets the difference between the actual purchase price and the amount that the loan is for. This can be split with the scam artist/seller, the realtor, the appraiser, etc. who are all in on the scheme.

Identity fraud

This can happen on both the selling and purchasing end. A "seller" may be a renter who has assumed the owner’s identity and fraudulently sells the property  under the existing owner’s name.  The buyer purchases the property through what seems like a normal purchase. At that point, the real owner  is apt to sustain a substantial loss trying to prove that identity theft has occurred.

In purchasing a fraudulent buyer may have stolen or acquired counterfeit identification and financial documents such as job letters, tax forms, RRSP slips and pay stubs. (There are criminal groups that use  stolen and counterfeit information to compile fraudulent identities and financial profiles and to obtain mortgages illegally.)

World Wealth Builders offers many unique, practical, "out of the box" real estate investor trainings which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to www.worldwealthbuilders.com

For the next article in the series – Detecting Mortgage Fraud – Part 3

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

 

Your success is our business!
Navtaj Chandhoke
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How To Collect An Extra Months Rent

How to collect like you are collecting 13 cheques months rent

As a full-time Canadian real estate investor, we will own many types of properties over the span of our career. There will be many exit strategies that we will have used that will enable us to create massive and passive income for ourselves. I must remind you that using a single realtor to help you build your portfolio is a recipe for disaster. By that I mean using a realtor in most cases, allows you to build your portfolio extremely slowly, and get  caught up in what that realtor thinks is best for you.

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Creating an Entourage of Experts – Part 6- Choosing an Insurance Agent

Creating an Entourage of Experts – Part 6- Choosing an Insurance Agent

 

If you missed the previous article – Creating your Entourage of Experts – Part 5 – Choosing a Lawyer

A Canadian full time real estate investor must be not only building massive income, but passive income as well. With massive income, we have short-term holds, flips, assignments, and many other strategies that we discuss in our trainings. The long-term hold  on the other hand, is primarily utilized for monthly passive income,  as well as massive income at some point, depending on what exit strategy is being used.

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The Role of a Personal Assistant

The Role of a Personal Assistant

As a full-time Canadian real estate investor, we must be actively creating massive and passive income for ourselves on a regular basis. Our time is our most precious commodity and therefore must use it wisely. We get the most profitable use from our time by doing deals, not by doing small tasks.  There are many facets of being a full-time real estate investor that are very important yet quite time-consuming. If we are able to pass of some of these duties to somebody else, it will be more likely that we can be focusing on doing more deals.

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