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Blogs Joseph MigadelJoseph Migadel April 20, 2018 173   0   0   0   0   0
The 7 Profit Centers Of Owning Real Estate When most people think of investing in real estate, they think of the obvious, “appreciation”(the increase in value of the property over time). The truth is however, that real estate can bring profits and financial benefits in 7 different ways. This is the foundation of investing in real estate for profit. 1. The first profit center is EQUITY. Equity is defined as the fair market value minus the debt service (mortgage) 2. The second profit center is LEVERAGE. This is the ability to buy more with less money. 3. The third profit center is APPRECIATION. This is the increase of the value of the property over time (as mentioned above). 4. The fourth profit center is PRINCIPAL REDUCTION. This is the reduction of mortgage owing over time through mortgage payments(paydown). 5. The fifth is CASH FLOW. When the income you bring in...
The Purchase Offer - Three Important Clauses
 
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Blogs Jarek BucholcJarek Bucholc April 18, 2018 6973   0   2   0   0   0
Many home buyers, and even some investors, seem to approach a real estate purchase offer as just an opening of negotiations. It can be this, of course, but it is also a legally binding contract the moment the seller signs it. You don't get to change the terms after that, or back out of the deal. That is, unless you have the right language in the offer to begin with. Purchase Offer Clauses To Protect You 1. Inspections This is perhaps one of the more important clauses in a purchase offer, and is common. But make sure you get the wording right. Ask for help if necessary, but the point is to make it possible to cancel the offer if any inspections show problems you don't want to deal with. Such a clause might read something like this; "This offer is contingent on the buyer's approval of the results of a termite inspection...
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Canadian Real Estate C CanadianREI April 17, 2018 596   0   2   0   0   0
{JoomFuse FirstName} Real estate delivers better returns than the stock market[1] does, but modeling returns requires critical thinking and a lot of due diligence. The better our due diligence, the better our models, the greater the access to capital. What makes commercial real estate such a unique asset class is that every investment is different and our due diligence needs to adjust accordingly. When it comes to due diligence, information costs money and therefore must have a return on investment. In this article, I discuss the decisions that real estate investors face when it comes to physical due diligence—think environmental site assessments[2], property condition reports, BOMA surveys, ALTA surveys, seismic risk assessments, and the like—and how to wring the most return on investment out of the process. Who should direct the due diligence? A questions I often get asked is: should the seller do pre-disposition due diligence? For most transactions, the buyer performs due diligence assessments at their own expense. However, on large transactions where the broker expects the buyer pool to be large and competitive, I believe that the seller is well-served to provide a full due diligence package at listing. In this case it pays to proactively reveal any issues and hold the asset out for auction “naked to the world.” Because in a competitive bidding process, buyers will discount any imperfections and focus on key economics. With a large data room it is difficult for...
What is Foreclosure?
 
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Blogs Jarek BucholcJarek Bucholc March 22, 2018 3671   0   2   0   0   0
Foreclosure is a court action taken by the mortgagee or the lender asking the court to cancel the equity of redemption to the mortgagor. The second and third mortgages should have a clause saying that if first is in default, the others are automatically in default too and they can take action against the borrower or the mortgagor. Redemption is the right of the mortgagor to have clear title to the property after paying the loan fully. Redemption period is usually provided to pay off interest, fees and back payments. There are basically two types of foreclosures. The first one is called Judicial. In this type of foreclosure, the mortgagee petitions the courts and begins a lawsuit against responsible parties. The second type is Non-judicial. With this, the power of sale has the processes covered in the mortgage documents. Lenders have the right to sell the property. On the power of sale process, happens quickly. It...
How to avoid renting to the tenant from hell
News CR Canadian Real Estate Magazine March 22, 2018 442   0   1   0   0   0
Nightmare tenants are afforded a lot of protection under Ontario law, even when they refuse to pay rent or move out, but, fortunately, steps can be taken to ensure your due diligence is foolproof. While asking potential tenants for references and credit reports, as well as having criminal background checks performed, is par for the course, they can be forged or otherwise circumvented, as one Toronto landlord recently found out. A tenant named Mike Lemke had documents forged and friends acting as references—he even enlisted a legitimate real estate sales agent, who happened to be his friend, to represent him—to move into a high-end Liberty Village condo rental.Having experience exploiting the system, he stopped paying rent and refused to move out. Steve Arruda, a sales agent with Century 21 Regal Realty, represented the landlord in that case and had the displeasure of dealing with Lemke.Upon moving into the condo in October 2016, Lemke’s metamorphosis into the tenant from hell didn’t take long. “He paid the first and last month’s rent, then he was there rent-free for six months,” said Arruda.“He’s one of those guys who knows the system and knows exactly how much time he has. “He was bragging about how he’d be there for six months and bragging about how he has rights, like the right not to pay rent. We went to the tribunal, but he’d always stall the hearings, make false accusations—it was just a big mess.It...
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Blogs Cathy ShenCathy Shen March 21, 2018 5871   0   2   0   0   0
One of the most overlooked methods that homeowners may have available to save their homes from foreclosure is obtaining a specific type of loan called a reverse mortgage. Because of its limited applicability, it is not frequently discussed as an option, but it may provide certain foreclosure victims with one more valuable solution. A reverse mortgage is usually used by homeowners over the age of 62 who are trying to supplement their monthly income. Instead of paying a mortgage every month, the reverse mortgage will pay the homeowners. The payments can be taken in a number of ways; for example, the homeowners may receive one lump sum from the mortgage company, get a certain amount every month, or be given a line of credit to be used whenever it is needed. Even if there is already a mortgage on the property, a reverse mortgage can be used. The main consideration will be how...
Selling Distressed Homes
 
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Blogs Quinn RempelQuinn Rempel March 09, 2018 1155   0   3   0   0   0
Selling a distressed home can be a little different than your every day home transaction. When you have a home in good condition, no legal or financial problems, it can be beneficial if you have the time and patience to list on the MLS and Maximize your profit. When selling a distressed home this can make things a little more difficult. 1. Time When listing your home on the open market you could be waiting months if not years depending on many different circumstances including, market, location, homes shape… If you have a home in good condition that isn’t facing foreclosure, or have a re -possession pending, this is most likely your best option. Most Distressed Homeowners don’t have this kind of time. Once a mortgage payment is missed your on the clock before the foreclosure process begins. Homeowners wait too long to find alternative routes to foreclosure and tend to lose their homes to the...
Proven Strategies for Finding Real Estate Buyers & Investors
 
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Blogs Duane WalkerDuane Walker February 27, 2018 600   0   1   0   0   0
1. Landlords on rentfaster.ca , Craiglist or Kijiji - Check out these websites under the “houses/apt for rent” sections, and you’ll find a huge list of property owners, along with their phone numbers and property addresses! Not all these owners will be cash buyers, but most investors with enough knowledge to buy multiple properties could probably do a cash deal or refer to others within their network. 2. Real estate clubs - Attend functions and seminars in your area run by local investment clubs. Network and converse with everyone and ask what their specialty is while letting them know what you do. You’ll make great business relationships and most importantly add to your list of buyers. 3. Real estate agents - These professionals have unique tools and experience that is valuable. They also have an existing network of buyers and sellers. Create relationships with a number of key agents and they will be a steady...
Why Rent-To-Own is a viable option, and what makes you a good candidate?
 
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Blogs Joseph MigadelJoseph Migadel February 27, 2018 1032   0   1   0   0   0
We firmly believe that all Canadians deserve a place they can call home. Our main goal here at Calgary Rent To Buy is to transform current renters into future homeowners through our unique and customizable Rent to Own Programs. Entering into a R2O (Rent to own or lease option) can be a great option if you’re not financially ready to buy a home yourself through a traditional mortgage. The structure of the program is the tenant buyer enters into a lease agreement with an exclusive option to purchase the property within a specified time period and at a specified price. We realize that every family has a different combination of assets, limitations and dreams. Our job at Calgary Rent To Buy is to understand your unique needs, so we can formulate the perfect Rent to Own program for you. We have evaluated the merits of various Rent to Own concepts and decided to implement and adopt only the most...
News CR Canadian Real Estate Magazine November 17, 2017 296   0   0   0   0   0
The cost of investing in Toronto is rising and some investors are beginning to look elsewhere, but are ROIs in Canada’s largest city really that paltry? Brad Lamb, owner of Brad J.Lamb Realty Inc.and Lamb Development Corp., says Toronto condo investments proffer diminishing returns. “It’s getting harder and harder in places like Toronto and Vancouver to buy a home, like a condo, and rent it and have it make any sense as an investment because you’re paying $1,000 per square foot,” he said.“You’re paying $500,000 for a one-bedroom condo apartment that’s 500 square feet and you’re going to rent it for $2,000 a month, but when you add up your mortgage, your condo fees and taxes, it doesn’t cover it.” Lamb says Hamilton is becoming increasingly attractive to investors. “Toronto’s real estate unaffordability shines a nice light on Hamilton, so investors are looking at alternate places to invest and prospective homeowners are looking for other places to live, where they can have a decent life in a nice home,” said Lamb. However, Akshay Dev, a sales agent with REMAX Realty One disagrees with that assessment.Not only do Toronto condominiums appreciate faster than Hamilton’s, they can still be had on the cheap when compared to other international cities. “You have to look at
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News CR Canadian Real Estate Magazine November 17, 2017 378   0   0   0   0   0
by Paolo Taruc First National Financial announced Wednesday its mortgage investment fund will be terminated by next month. Unitholders are not required to take any action, according to the fund’s manager, Stone Asset Management.Instead, the fund will pay them a special distribution before termination.The payout will be based on the amount necessary to eliminate the fund's liability for non-refundable income tax under the Income Tax Act. The move comes as the favourable tax treatment for the forward purchase and sale agreement (“Forward Agreement”) – an integral part of the fund’s portfolio – is set to expire on 19 December. First National said it will no longer be possible for the fund to provide its unitholders with exposure to the Portfolio on the originally intended tax-advantaged basis. “As a result of the upcoming Forward Termination Date, loss of the intended favourable tax treatment and reduction in the size of the Fund's assets as a result of redemptions over the past number of years, the Manager [Stone Asset] has determined to terminate the Fund on or about the Forward Termination Date,” it added.  Stone Asset will apply to delist the units of the fund from the Toronto Stock Exchange.It is expected that the units will be delisted at the close of
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News CR Canadian Real Estate Magazine November 15, 2017 305   0   0   0   0   0
October sales indicate the housing market is bouncing back, and the Greater Toronto and Vancouver areas are leading the way. Sales last month were up 0.9% over September, even though listings declined 0.8%, which is in stark contrast to the August-to-September increase of 5%. The Canadian Real Estate Association compiled the data, and another key finding was that October’s sales-to-new-listings ratio of 56.7% was up 1% from September, indicating the market is balancing. Year-over-year sales in October decreased 4.3%, but the national average sale price of $505,937 was up 5%.However, the average sale price dropped to $383,000 when the GTA and GVA were removed from the equation. REMAX Integra CEO Pamela Alexander says inventory is still tight in Canada’s two largest housing markets, but that signifies a return to a stable and predictable market.Fortunately, she says, it will be nothing like the beginning of 2016, when there was unusually high activity and homes sold well over value. “It looks like it’s heading back to a normal market, like the one we’ve been experiencing for the last 10 years,” she said.“The market is trying to find its balance across the country, especially in its two biggest markets.” Looking ahead through the remainder of 2017 and into next year’s first quarter, Alexander expects stable
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News CR Canadian Real Estate Magazine November 15, 2017 309   0   0   0   0   0
by Paolo Taruc The Urban Development Institute (UDI) has criticized the decision of Vancouver authorities last week to deny the Beedie Living mixed-used condo project in Chinatown. “This ruling creates significant uncertainty because our members don’t know if they can rely on zoning, urban area plans, advice of city staff or recommendations of the Urban Design Panel,” said UDI president and CEO Anne McMullin in a statement. She described the move as a “surprise decision,” as the proposal was revised five times over four years and received the support of expert city staff, the city’s Urban Design Panel of design professionals. McMullin warned that the denials sends a “negative chill” throughout the industry at a time when when housing supply in market, rental and affordable homes has reached historic lows. “Our members, and the thousands of individuals represented in all facets of development and building, are concerned this decision undermines the integrity and reliability of the City’s rigorous planning regime, and puts into question future projects, not only in Chinatown, but across the City,” she added. Opponents of the development believe its construction would gentrify the area and price out the community’s marginalized residents.“In the neighbouring 189 Keefer building, we have seen 1 bedroom condos being sold for just under half
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News CR Canadian Real Estate Magazine November 06, 2017 412   0   0   0   0   0
The Real Estate Investment Network released its top-10 ranking of British Columbia cities, and Surrey finished first. REIN, an independent research and analysis firm, used an equation that measured gross domestic product, employment and population growth, followed by increased rental demand, decreased vacancies, and finally increased rents to determine which cities possessed the most real estate investment potential. Surrey, B.C.’s second-largest — and fastest growing — city, had the strongest performance, according to REIN’s equation. “Where we start is economic health of gross domestic product, and with that comes jobs and people, and 12 months down the road you start to see the housing in terms of rental demand and vacancies, and 18 months later is when you see actual property prices increase,” said Jennifer Hunt, REIN’s vice president.“It’s ranked on a very robust methodology that starts with economic health.” The REIN report, Top Ten British Columbia Towns and Cities, also identifies the best investment strategies for each city based on where they are in the real estate cycle. “Surrey is in the beginning of a boom,” said Hunt.“Fix and flip is the optimal tactic to use in the Surrey market as it is today because of where it is in the real estate cycle. In addition to diverse economic opportunity,
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News CR Canadian Real Estate Magazine November 06, 2017 412   0   0   0   0   0
According to The Conference Board of Canada’s latest report titled Compensation Planning Outlook 2018, Canadians should not expect a substantial addition to their households’ coffers in 2018. The study revealed that non-unionized employees across the country will see only a 2.4% increase in their salary next year, just slightly higher than the 2017 growth of 2.2%.Projected increases are highest in the pharmaceutical and chemical products industry at 2.7%, and lowest in the health sector at 1.6%. Increases of 2.6% are expected in the real estate industry, along with organizations in construction, finance, and insurance. Read more:Canadian debt-to-disposable income load rises in Q2[1] The highest-demand postings remain IT specialists, management, accounting/finance, engineering, and skilled trades. On a regional basis, Manitoba, Ontario, and Quebec lead the way in terms of projected increases, with wage gains ranging from 2.6% to 2.5%.Meanwhile, the lowest average base pay increases are expected in Alberta and Saskatchewan, at 2.1%. “While the Canadian economy is firing on all cylinders this year, growth projections for next year and beyond show a slowing down of the economy.As a result, business leaders continue to exercise caution, keeping a cap on organizational spending and, by extension, salary increases,” according to Allison Cowan, director of Total Rewards Research, The Conference Board of Canada.
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