QUOTE (RobMacdonald @ Oct 26 2009, 04:46 PM) In a rent to own case, the lender will only give credit for the additional rent above the market rent, as well as the original deposit. Ok, I have truly hit an area of confusion. I have been told from a professional that: "There is no legit way for...

QUOTE (MarkKruse @ Oct 26 2009, 05:49 PM) Lets say your rent-to-own tenant decides to execute the purchase after 10 months on a purchase price of $100,000. He would accumulate 10 mos x $300/mo = $3000 of deposit. You "match" 10 mos x $300/mo = $3000 towards purchase price. The actual Agreement...

QUOTE (RobMacdonald @ Oct 26 2009, 04:46 PM) In a rent to own case, the lender will only give credit for the additional rent above the market rent, as well as the original deposit. Thanks for your comments Rob. This is interesting as I am seeing many deals being structured this way. Are you...

QUOTE (MikeMcCrae @ Oct 26 2009, 11:10 AM) There is no legit way for a vendor to give the buyer the down payment. Lenders do not want vendors giving the buyer the down payment. If you are willing to drop your price then just drop it and let the purchaser find his own down payment. This is not a...

Hello I have a potential purchasers for one of my properties. Since I am not using a realtor and the market in down, I am quite comfortable selling for 5% lower than the appraised value. I want to be able to pass that savings down to the buyer in the form of his down payment. For example let`s...

QUOTE (Mystique @ May 5 2009, 07:03 PM) Hello everyone. I am looking for some help in preparing an offer. I have an interest in buying a commercial property, a senior care facility to be precise. Would anyone be willing to share information on how agreement for sale works? How one does writes...

QUOTE (hegleman @ Apr 23 2009, 04:23 PM) To start with my name is Shaun and I have been in REIN, 3 plus years. I have acquired 9 properties over that time (some great cashflow, some not so great). I got into REIN because I felt that if I acquired real estate it would go along way in solving...

Hello Does anyone have any information in regards to how an agreement of sale works, the advantages (to the buyer), and the disadvantages (to the buyer). I am working on a commercial purchase where the seller absolutely can`t get out of his first mortgage. He is suggesting I give him xxxx in...

Hello I am currently working on a large deal and wanted to give myself 3 months for financing and a 4 month close. I have found great success with a cover letter to go with an offer. It softens up the seller and makes them much easier to deal with. I am curious as to what reasons others would...

QUOTE (gpdu @ Apr 17 2009, 02:04 AM) Thank you, Mark. Do you use a property manager there? I had a quite bit of vacancy but it seems to improve recently after I changed my property manager. Sorry, I haven`t been on here for a while. One of my biggest issues in Brooks was property management...

QUOTE (brentdavies @ Apr 14 2009, 09:20 AM) Brooks is almost a 3 industry town. Beef packing plant, agriculture and oil. Lakeside packers is up for sale by Tyson foods, and it may have already been sold. Talk about shutting it down. What is the current employment at lakeside? Oil and gas...

QUOTE (thomasbeyer2000 @ Mar 30 2009, 04:58 PM) 1st things 1st: ensure you mention that his VTB is SECURE .. i.e. address the most common concern: you don`t pay him ! Tell him about you and your net worth and your plan for the building .. fuzzies are key ! did you meet him ? that would help ...

I am in the process of taking a run at a large commercial building. The seller is not very experienced when it comes to VTB`s and is a little bit nervous. It is my job to educate him. I am going to write a cover letter with an offer. Within that cover letter will be a section of the advantages...

QUOTE (investmart @ Mar 24 2009, 10:10 AM) Thank You Thomas and Navaz, So I understand from you that interest will be much better/best with a CMHC insured mortgage(!) What are CMHC basic requirements/criterias to insure an apartment building in addition to the condition and age of the...

QUOTE (MikeMilovick @ Jan 24 2009, 07:07 PM) I do not think the 95% CMHC program is appropriate for tenanted investment property. Its believe its stricitly for residential application (i.e. owner use) only. Why not try stringing together some lines of credit - get one at PC Financial and one at...

QUOTE (thomasbeyer2000 @ Jan 16 2009, 07:44 PM) check your footer ... Bear Mountain also doesn`t sell itself as a hotel development project. So as the waters are now good and muddied, I am compelled to at least try and clear them up regardless that they have no bearing on the original topic...

QUOTE (gwasser @ Jan 16 2009, 11:06 AM) I spend a couple of vacation nights at Bear Mountain on Vancouver Island it is a nice property all right but definitely not a REIN property. I quickly checked some numbers and walked away with the feeling that this was a development designed to satisfy the...

QUOTE (thomasbeyer2000 @ Jan 15 2009, 03:21 PM) ANY development project (in vacation properties like Bear Mountain) or hotel development projects (especially hotel conversion into strata) are EXTREMELY HIGH RISK as it is very tough to finance right now .. thus very low cash-on-cash ROI ! What is...

QUOTE (CargrenInvestments @ Jan 15 2009, 11:00 AM) You are allowed to withdraw your RRSP funds without any penalty to use for a downpayment for your own primary residence (only if you are a 1st time home buyer). You must, however, repay your RRSP account over a period of years; I believe 15 yrs...

QUOTE (RedlineBrett @ Oct 24 2008, 10:34 AM) Fixed rates can be a bit dangerous, especially on a big amount like this. Also not wise in my opinion to do so and count on appreciation of a MF\C property to make it happen. We only do it if we can pay the interest out of cash flow. If your...