Low loan to value at 54% between 1st mortgage of $425K and 2nd mortgage (this is the opportunity!) of $380,000 - value is 1.5M between 6 serviced 1/2 acre lots currently being marketed for sale in the hot market of Cranbrook, BC! Lots on located on a golf course subdivision. We have full time...

Well did I ever find myself in a pickle last week. The joint venture partner I had lined up for a bank owned foreclosure deal backed out on me and I had 2 weeks to close. I had a rent to own tenant buyer moving in the day after possession and had taken partial down payment from him already...

Steve, I agree with David Sandbrand, you need to talk with Gabe and see if he is interested in continuing on. If Gabe is on board, then use the AREA contract with an extra page to cover off the financing details (you can email me for a sample copy of how to fill in the contract and my extra...

Gary, Thanks for the additional info!

thanks for the reminder Steve - check out today's posts!

Thanks to those of you who contacted me asking for more and reminding me that it has been awhile since my last post. Today I have been working feverishly on revamping my websites. Let's face it, most people are using Google to try to find our services these days....do you have a website, and...

Mike, I have done and AFS where the Seller used it to help them qualify for a mortgage on their next home. Now these people were also using the line of credit as their down payment and they had excellent credit. I'm in the process of doing another one where the seller can keep his current...

Mike, Doing an AFS means the house is sold with seller financing and you are legally obligated to make the payments and cash him out when it comes to closing time. Doing a sandwich lease means less security for the seller as you are not obligated to exercise your option to purchase...

I have found that most banks will deem an AFS to be similar to a rental property and thus the rental income offset will be added to the Seller's income to help lower the debt service ratio so that they can qualify for another mortgage. The Seller should have good credit and if the down...

Danny, I sent you an email on myreinspace with the details.

I would definitely add the clause that the seller agrees to renew the mortgage for a further 1 year period of time upon buyer's request. Remember part of this is negotiation, and part is dealing with a motivated seller. My lawyer's advise was to put in an actual time period for the extension...

Today's post is about keeping the buying machine going...please feel to add your comments and feedback. Today I found myself sold out of houses - again. So it is fitting to talk about keeping the buying machine going. Some people like to buy one house at a time and sell it - either to cash...

Yes, you use a purchase and sale agreement and a financing page to cover all the mortgage details. If you have been to Barry McGuire's Deal Ready Docs course you can find one in the materials. Otherwise email me for a copy.

First I must say that I only really want to speak with motivated sellers who I think will be willing to do business my way (usually AFS). Some of the objections: - need all their cash to purchase new home - don't want their name left on mortgage/title - can't qualify for another mortgage...

Today's post is about purchasing a house using Agreement For Sale and what I say to sellers on the phone before leaving my office to check out their home. Please feel free to add your own comments and let others know what works for you. When talking with a seller on the phone who has either...