Hi Antay. Yes, you can use our firm to close your Agreement for Sale, ( AFS ), deals. I believe you can use the forms I explained in my handout at the Ron LeG event and now posted on myreinspace. Remember though, those forms , LIKE ALL FORMS, are just a starting point. If you have a deal that...

I`ll let other members comment on the exit strategy except for one thought. How about a lease option to another investor instead of an owner occupier ? On the technical side of the AFS, the seller may let you just make his payment on his LOC. That payment is very low now because rates are low...

I don`t think it matters what province you are in; tenants have rights and therefore impossible to punt an existing tenant solely for the reason of putting in a new lease/option tenant. Of course you could negotiate with the existing tenant, provide some inducement for him to leave. If you do...

Thanks for those kind words. As always, Thomas Beyer`s comments are spot on. Please re-read those. Thomas commented on the importance of having the right to assign your interest in an Agreement For Sale (AFS) or, really, any contract. Sellers don`t like giving buyers the right to willy-nilly...

QUOTE (workman @ Oct 22 2009, 04:33 PM) Just wondering if anyone knows when we will get the legal forms from Barry? I need to get the forms as I have a deal to work on. Jody Good work, Jody! I must say, this event certainly has created forward momentum. I forwarded all of the front end...

Hi William. I have sent the dox on to the REIN office. They are now in charge of distribution. I amended the custom contract so that failure to close damages are limited to the deposit instead of being open ended. Remember, what I have sent to REIN are the `front end docs`, that is ...

Hi Terry. Too bad the pricing side didn`t work out. But, on the other hand, great that the seller was comfortable with the concept of giving you an option. In the end, options really are quite simple. A seller gives you the chance to buy his property for a fixed price within a fixed period...

QUOTE (housingrental @ Oct 21 2009, 06:58 PM) Hi Barry What if your doing this on an ongoing basis? Is the legality distinction limited to not representing it as a sales service to the owner? Or is it if your doing this as a course of business? Ie can you do ten options in a year and be in...

QUOTE (TerryKruse @ Oct 21 2009, 11:54 AM) I am visiting a selling in the hope of getting a option for a "pretty house" in a great neighbourhood. I plan to Round Robin/Cash Sale the property within a short time. I have 2 questions. 1. When I do this option, do I have to also fill out an...

QUOTE (ChrisRudd @ Oct 21 2009, 11:10 AM) Hi Neil, Would you be willing to let us know the name of your new lawyer who will work with Ron`s concepts, if you have already found one in the area? Thanks, Chris Folks, for investing in Ontario, I have sent all my materials to James Quigley, so he...

QUOTE (TerryKruse @ Oct 19 2009, 10:33 AM) I am using Barry`s office from now on. They don`t need to be in Calgary for the Ritchie Mill office to help you - they help people from other provinces - and who better than them to help with the quick turn legal help. This way, I won`t need to educate...

As Brian said the really good thing about options is that they have been around for a long time. Further, I believe, The basic notion of options work approximately the same in all jurisdictions whether it be ONT, BC, AB or ...? As for trading in real estate, you CAN`T say to a homeowner, "...

Good job Tony ! As much as I am a lawyer and concerned about legal paperwork and concepts, my end of things , that is, how to paper Ron LeGrand`s strategies , is not the reason you go to see Ron. As long as you can implement a strategy in AB , then the legal bit is not the important part ...

Hi Ken. The other three members replies are good advice especially that foreclosures come in the category of, "don`t try this at home!" They are tricky and complicated and time-consuming so my number one bit of advice is have your client hire a lawyer and get on it. Our Neil Fenna at Richie...

My clients who have done this say it has been difficult treating the seller as one of their normal tenants. Particularly tough telling the seller he has to pay a security deposit and , as another poster said, sellers forget they are tenants and no longer owners. Get real clear on the tenancy...

For anyone who attended the REIN ACRE Weekend in Toronto, this topic was covered in my Focus on Ontario Due Diligence (pages 35-39).This is not limited to Ontario, but, in my opinion, applies nationwide when you are considering RPRs (Surveys) vs Title Insurance.Here is an excerpt from the book...

I note that the "Rules of Life" are a quote from Henry cotton who was born in 1907. Let`s say he wrote these rules when he was 40 which makes it 1947 and about 60 years ago. Still great advice today. Cheers Barry

The real estate contract ( offer )is a little tricky to write up. Altho its described as a " trade " , you are really buying and selling and all of the usual buying and selling issues need to be considered and taken care of in your contract(s). You might work out a ` practice ` trade and try...

A perennial great question ! Many previous posts on this topic including the following. http://myreinspace.com/rein_members_only/Members-Only_Discussion/81-9751-Tax_Tip__Reasons_to_NOT_incorporate.html If you want to review more posts, search " incorporation ". Hope this helps Barry

In Alberta , like Ontario, if the lease expires and is not renewed, the lease goes to a month to month. You are now caught by the provisions of the AB Residential Tenancies Act with respect to notice to vacate. You have to fit in one of the narrow categories in order to give your tenant...