Hello everyone,
My name is Greg Hanwell and I just signed up for membership this past weekend in Edmonton. I`m one of five partners that own a couple of restaurant and some properties. I first read Real Estate Investing in Canada a year ago at the behest of one of my business partners and have used it as the foundation for the model we use to invest. The Quickstart was great and I appreciated the insights of some of the veteran members that I had the chance to meet.
We put an offer on a property just last night and I`m excited to find out if we got it. I do have a question that I`m hoping someone has some experience with. The property is a nice family home in a nice family area that was repossessed by the bank due to missed mtge payments and the fact that it was being used as a grow-op. Apparently the operation was not in use for very long before the forclosure, maybe a month. We did a thorough inspection of the property and found no mould resulting but does anyone know whether CMHC (Genworth etc) have any provisions that could inhibit the eventual resale due to the property`s history as a grow-op?
My name is Greg Hanwell and I just signed up for membership this past weekend in Edmonton. I`m one of five partners that own a couple of restaurant and some properties. I first read Real Estate Investing in Canada a year ago at the behest of one of my business partners and have used it as the foundation for the model we use to invest. The Quickstart was great and I appreciated the insights of some of the veteran members that I had the chance to meet.
We put an offer on a property just last night and I`m excited to find out if we got it. I do have a question that I`m hoping someone has some experience with. The property is a nice family home in a nice family area that was repossessed by the bank due to missed mtge payments and the fact that it was being used as a grow-op. Apparently the operation was not in use for very long before the forclosure, maybe a month. We did a thorough inspection of the property and found no mould resulting but does anyone know whether CMHC (Genworth etc) have any provisions that could inhibit the eventual resale due to the property`s history as a grow-op?