Tag Archives: create more real estate deals

Canadian Cash Home Buyers

Posted on by
Speed, convenience, peace of mind, and financial motivations top the list of reasons a growing number of sellers are turning to Canadian cash home buyers
 Sellyourhome14164097300
This is the option that a lot of Canadian home sellers are going with these days, especially if they want to sell their houses fast for cash.

Canadian cash home buyers purchase properties to fix it, add legal basement in-law suites to resell or rent them. If you have a property to sell, a Canadian cash home buyer will purchase it, regardless of anything else.

You make a phone call or answer, agree to an offer, and then it’s not something you have to worry about anymore. Selling your house for cash has similar benefits to trading in your old vehicle to the dealership when you buy a new car. Sure, you might pocket a little more money if you sold it yourself.

In real life in Canada selling for cash won’t mean that a person shows up on your doorstep with a briefcase full of hundred-dollar bills. You’ll still have official steps to complete all paperwork with the approval of your Canadian real estate lawyers.

We will quickly inspect the property and can send their cash offer for fast closing. Canadian Cash Home buyers
Here’s how each one of these motivations could apply to your situation.

Speed and super convenience

  • You inherited a house you’re unfamiliar with and perhaps far away from.
  • You don’t want to disrupt your life with house prep, staging, and showings.

Need CASH now

  • You’re on the brink of foreclosure, repossession by the bank, power of sale, eviction or seizure of your home.

Canadian cash home buyers means business, and once they make you an offer, the whole process could be over and done within a matter of days. Moreover, with Canadian cash home buyers, you won’t need a real estate agent, no need to repair the property, clean up so you’ll pay no commission, which ends up saving you a lot of money.Canadian Cash Home buyers

Canadian cash home buyers even can help you with EMERGENCY CASH, if the property owner is facing foreclosure, power of sale, repossession by the bank, eviction, seizure etc.

In general, selling your home to a Canadian cash home buyer typically allows you to skip the home prep, showings, and staging hassles and arrange a more flexible closing timeline to coordinate with the purchase of your next residence. But not all cash buyers have the same exact business model.

We do help homeowners going through difficult situations. Forget the showings and the real estate’s commissions, sell your house fast today. Please call 1-416-409-7300/text anytime or go to www.preigCanada.com/we-buy-houses

Serving Canadian home sellers in need of fast CASH successfully since 1993.

P.S : Remember, you are just one flip away from financial freedom! If you want to get one step closer then register for the Canadian real estate investment strategy apprenticeship LIVE 

Seats are selling fast and we will soon be SOLD OUT.

EMERGENCY CASH AVAILABLE ! Please fill up the form and call/text us at 1-416-409-7300

Automate Your Rent Collection

Posted on by

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→

Cutting The Cost of Repairs

Posted on by

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?

Continue reading→

Foreclosure Process in Alberta Part 2

Posted on by

Foreclosure Process in Alberta – 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.

Foreclosure Process in Alberta

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.

Foreclosure Process in Alberta 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.Foreclosure Process in AlbertaForeclosure Process in Alberta

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 Passion!

 

Creating an Entourage of Experts Part 2

Posted on by

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→

Becoming a Successful Full Time Real Estate Investor

Posted on by

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!

Continue reading→

The Suicide Clause

Posted on by

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→

Mortgage Jargon – Part 2

Posted on by

Mortgage Jargon – Part 2

If you missed the previous article – Mortgage Jargon – Part 1

We will continue in our series on mortgage jargon. Many of these references should or will soon become apart of your language in real estate investing.

Total debt/service ratio

This ratio is calculated by your mortgage broker. This is a standard by most lenders which states that no more than 40% of your gross income can be utilized to service your property. Your total debts are principle interest, property taxes, heating, 1/2 condo fees, plus all other monthly obligations, such as credit cards, leases, loans, lines of credit, etc.

Switch

This term applies to changing lenders at the end of a term. When a mortgage is at the end of it’s term, or coming to the end of it’s term, another lender may pay the costs of switching over to their company. This means that if there is a mortgage penalty, the other lender may pay that penalty for you to break your mortgage and move the mortgage to them. They may also offer you a reduced rate to come to them from a competitor.

Cap rate

A cap rate is a calculation that is used mostly in the commercial side of real estate. The the fair market value is divided into net operating income (rent minus expenses, not including mortgage). Capitalization rate is essentially a percentage calculation that is better when higher. The higher the result, the better rate of return.

Closed Mortgage

A closed mortgage is closed for the term, usually 5 years, but it can be anywhere from 1-5 years. It cannot be paid out unless there is a penalty involved which can be discharged at a cost of either three months interest, or an interest rate differential.

Interest Rate Differential

The IDR is a penalty for an early pre-payment of all or part of the mortgage outside the normal payment terms, or even pre-payment terms. This is calculated as the difference between the existing rate and the rate for the term remaining, multiplied by the principle outstanding and the balance of the term. For example, if the mortgage balance is $100,000 at 9% with 24 months remaining and the current 2-year rate is 6.5%, the different between 6.5% and 9% is 2.5%. The interest rate differential is $100,000 outstanding mortgage, times 2-years times 2.5% will equal $5,000 dollars.

High Ratio Mortgage

A mortgage that is greater than 80% loan to value(LTV). What is loan to value?  It is the ratio of loan compared to the value of the property. For instance: if the mortgage was a 70% loan to value on a $100,000 property, the value of the loan would be $70,000.

Equity

Equity is the difference between the value of what you can sell your property for (or fair market value), compared to what is owed against it. So the more equity in a property for a real estate investor, the better.

We will continue in our mortgage jargon series in a following article.

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

To read the next article – Mortgage Jargon – 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
1-416-409-7300