I concur with Gary re: 5 yr mortgage. If the house needs significant work done to it, it may be hard to find a rent to own tenant who will want such a property as they will have to put out a bunch of money into it. If the house just needs a good cleaning and paint then rent to own is a good...

This week we will discuss advertising for rent to own tenants. Please feel free to share your experiences and respond to this posting. Here are the top 3 ways that I advertise for rent to own or lease option tenants: 1. Kijiji - Hands down I get the best response (typically by email) from...

There are benefits to both ways. I would do an AFS and get as much deposit as you can get - no less than $15,000 and use your closing date on the contract as your mortgage renewal date, meaning they must get their own mortgage before the closing date. Keep in mind that the purchase price on the...

I would sell it via agreement for sale hands down but not knowing how much you owe on mortgage, I would recommend getting as much cash to mortgage balance as you can. You may not get all of it but strive to get as much as you can to ensure the buyer will follow through. I would recommend...

First get the legal description of the property - go to the city of Calgary website - you should be able to search by street address to get legal description. Then go on line to www.alta.registries.gov.ab.ca/spinii then register as a guest click on search click on titles and...

The option to purchase with tenant buyer that I use is from Barry McGuire's stuff - its a 3 page document that accompanies your regular lease agreement. It basically outlines the option deposit money, monthly credits and the terms of the agreement. Its easy to read and understand. Send me an...

Barry's Deal Ready Docs Saves You Money!! I gave my lawyer copies of all of them so she doesn't have to charge me extra legal fees to draw up ones from scratch! I have been consistently using Barry's 3 page Option To Purchase with my tenant buyers and have not had any resistence or non...

I would suggest buying properties at least 10% under market value to buffet against the declining prices. Another suggestion would be to offer a small second mortgage to the RTO buyer - but be careful here - you may have to forgive the loan if prices continue to decline. Andrea Warkentin...

It has been suggested to me to post weekly tips about quick turn. So here is the first week's installment. Please feel free to post you comments and questions. This week's post is about advertising to attract motivated sellers. There are many different marketing methods, with varying...

Great idea - thanks Russell!

I have heard many complaints about quick turn not working for people in Canada, or not hapy with their mentors. Just like anything else, some people are better than others at mentoring. I have learned a great deal from my mentor, Lynette Wolff. She helped me inplement the quick turn...

I enrolled in the Mastermind Group just over 1 year ago and yes it cost me $25,000. Was it worth it - well I now own 14 more houses than I did 1 year ago and 12 of those houses I bought by "Agreement For Sale", and 2 cash deals. I received over $300,000 in free equity from sellers which most...

If you contact Phil Jarvie at HUB International 1-800-263-2383 ext 7086 he will handle it for you. Basically you get the seller to fill out HUB`s 2 page application, and I add my name to the seller`s as an insured party, loss payable still to mortgage company. I also put my name as the contact...

John, It`s about $140/month per sign, 6 month contract - I have only received a couple of calls from them in past 5 months and no deals. I have one month left in my contract and I`m NOT renewing. My other advertising is far more profitable. Andrea

I have a newspaper ad, kijiji ads, vinyl on my truck and bus bench ads. I also do open houses when I can with ugly pointer signs.

The sign by-law in Red Deer says you can only put out garage sale and open house signs adjacent to the area where it takes place. Otherwise it is a $500 fine per sign - I almost leanred the hard way with that but thankfully the bylaw officer gave me 24 hours to remove signs. Andrea Warkentin...