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Recent content by Dejavu

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    Looking for a mortgage broker

    I’ve spoken with Daniel Patton at Butler Mortgage. We didn’t do business this time round but I found him very knowledgeable. He gave me a great overview of my options across a multitude of lenders (which was what I needed). The one I chose wasn’t one of his but He was still very helpful and...
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    Contractors in Barrie ON

    Hi, I have a Reno project coming and was wondering if anyone could recommend a contractor in Barrie ON. The work will involve renovating two bathrooms, flooring, paint, some plumbing, electrical. Would appreciate any referrals. Many thanks! Sent from my iPhone using myREINspace
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    Rent to Own - default and eviction

    No worries, I understand and agree that these strategies aren't for novice investors. Cheers.
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    Rent to Own - default and eviction

    Well, nothing wrong with being blunt but everyone's business model and the perception of risk is different. I would NEVER go ski diving as I consider it a highly risky activity, doesn't mean others perceive it the same way. People sue when they feel they are being treated unfairly. We don't...
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    Rent to Own - default and eviction

    That's an interesting perspective, Sheilynn, thanks for sharing. We also do higher down payments, some higher than 5%, but we've never had anyone with even semi-decent credit. We rarely buy from MLS for rent to Own and mostly do rescue refinance- meaning the clients own the home and are behind...
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    Rent to Own - default and eviction

    I'd say 50-60% is about average. I suppose there is always room for improvement but there are many variables that are outside of the investors control no matter how well you qualify them: marriages break down, people do really silly things for no reason etc.case in point- this eviction. There is...
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    Rent to Own - default and eviction

    Thanks All for your replies. Yes, I reached out to a few contacts who also mentioned April Stewart and she is on the case:) Based on what I have learned from authoritative sources - whether you have a straight rental arrangement or a rent to own, if you are on title and your tenants are not...
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    Rent to Own - default and eviction

    Hi All, I have a rent to own in Barrie, ON where tenants are in default and looks like I'll need to go the eviction route. I have one lease agreement which contains language regarding the option to purchase (as opposed to two separate Lease and Option agreements). At this point I am unsure...
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    Sale to an RTO client - how to prove down payment

    Hi REIN members, I am working on an RTO deal and would like to set it up such so that there is no problem later with proving down payment/credits when RTO tenants go to secure their own financing to buy the property. What are some of the more common and effective methods investors use to...
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    Rent To Own question

    I have this question out to a broker as well and if I hear back, will post here. In the meantime, perhaps if any mortgage brokers on the board helped their RTO clients get mortgages recently and could share their experience, it`ll be much appreciated. Vitaly
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    Rent To Own question

    Hi, I just read in another RTO thread that CMHC requires option money paid by the tenants to be kept in trust till the sale closes in the end of the lease term. I am planning to do a couple of RTO deals in the near furture and was wondering if experts and those with experience could share their...
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    Strong Quick Turn Prospect - very little time

    QUOTE (jvarcoe @ Jan 14 2010, 10:18 PM) Hello Vitaly, Congrats on your first deal -- Now the "fun" starts! Here`s what I see... With the husband absent (but still on title) you`ll need to talk to a lawyer to see how you can sell the property without his involvement. I am not sure that you can...
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    Got my call from the police today...

    QUOTE (tonypeters @ Jan 14 2010, 07:58 PM) Godfried, Extremely well put! Thank you for your input! If the forum would like to hear my "personal" opinion of what adjustments are required in order to attract more "positive" and less "negative" attention, I would be happy to provide it. With...
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    Strong Quick Turn Prospect - very little time

    Hi, I just had a lead come through which seems to be a "classic Legrand scenario"…the only problem here…the owner is being foreclosed on and the eviction is scheduled for Monday next week (in 4 days from the time of this post). This is a first deal like this for me and I am not sure if there...
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    Potential Quick Turn Deal (Resort Location)

    Hi, I had a lady contact me yesterday about a condo located on a lake resort in the cottage country in Ontario about 2 hours drive north of Toronto. She is a teacher who used to live there but later relocated to Southern Ontario. The condo has been on the market for 2(!) years and has not...
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