What do you guys do when you come across a good deal but it is rental restricted? Do you buy anyway and try to sell for cash or seller financing? Since it`s rental restricted you can`t do RTO, right?

I was wondering which websites you guys are having the most success finding leads. Here in Vancouver, my favourite is craigslist. Kijiji is good sometimes but the only problem you can`t tell the difference if it`s FSBO/listed. Lately I have been working on "usellahome.com" but it`s full of...

QUOTE (DavidSandbrand @ Dec 6 2010, 08:52 PM) Mario, Like most things, "it depends"... if the balance on the LOC is at or *very* close the the maximum limit of the LOC, I wouldn`t worry about it. There`s a bit of risk, but this is often outweighed by the fact that your monthly carrying costs...

Can I still buy with agreement for sale if the seller has a line of credit on the house? Does it work the same way? Thanks ! Mario

QUOTE (housingrental @ Nov 30 2010, 08:02 AM) I support Thomas`s above post Mario caution is needed Thanks for the heads up guys! $1,800 is very reasonable for a 7/4 detached, 3200 sqf. The seller won`t take my calls, i`ll follow up again next week. Probably the deal is gone. So,If the seller...

QUOTE (ThomasBeyer @ Nov 27 2010, 10:47 AM) It strikes me that YOU need to further your real estate education ! Taking on debt of over 400k is a serious decision as YOU will be responsible to pay it eventually .. From a sale or refinance down the road ! Before buying ..and taking on debt ...

I see... I thought she could refi just the amount of equity that she has has on the house and get a second mortgage to pull out her equity. So you are saying that if she refinances she can pull out only $23,000, right? Which is not bad if they can wait to get the $102,000 later on. The house is...

Hey Thomas, I talked to the seller today and she`s more likely to refinance. Does she have to go thru her lender to do that or another mortgage broker will do the job? Here`s the numbers: ARV:$530,000 Asking:$510,000 Equity:$125,000 Loan:$385,000 Payment:$1,400 PITI- 2% Variable It`s...

I was wondering how refinancing works when buying with AFS. Can the seller refinance only when the house is free and clear or Can he refinance if he has some equity? I`m working with a seller who has about $130,000 in equity and if her husband agrees she might wait for me to cash her out some...

Great advice Gary! It`s working now! Thanks! Mario

QUOTE (GaryMcGowan @ Nov 23 2010, 06:50 AM) Try different Headlines, you need to be creative Ones that have worked for us in the Toronto area. My Wife Told Me to Buy A House This Week I Need To Buy A House This Week My Mom Said GET OUT and Buy Your Own House I Can Close Within 14 Days Wanted...

QUOTE (GarthChapman @ Nov 23 2010, 08:06 PM) There is a huge difference in the time and effort required to create adjusted comps versus non-adjusted comps. By adjusted I mean those where the Realtor has valued the adjustments between the comparable properties to give you a value for the Subject...

What`s the best compensation plan to work with a realtor in order for me to get comps? I won`t be really selling with them since my exit strategy will be a lease to own so I was wondering about a fair way to deal with them. Would $10 per comp be okay? Thanks! Mario

Every time I put my "we buy houses" add on craigslist to attract sellers I get flagged or ghosted. Do you guys know any tricks around that? Thank you! Mario

QUOTE (JimWhitelaw @ Nov 22 2010, 06:44 AM) Yes, it will play a factor, but she will also have additional income from you offsetting the payments. Whether that prevents her from qualifying will depend on the lender. Perhaps you can set her up with a good broker that can assess her situation for...

If I buy from the seller with an AFS, and she wants to qualify for another mortgage. Will she have any problem? I`m currently working with a seller that`s willing to leave the loan on her name; however, she`s worried she will not qualify for her next loan. Thank you! Mario Ferreira

QUOTE (Yasir @ Nov 19 2010, 07:38 PM) Hello, I wanted to know where I can go to set up a website to buy homes? Please advice, thanks Yasir I got mine from www.inetusa.com.

Since this thread has been started and I am also getting my quick turn websites set up. Could you guys also give me suggestions/opinions on my websites? They are: For buying: http://vanhomebuyers.net/ For selling: http://vanhomedeals.net/ Thank you! Mario

QUOTE (DavidSandbrand @ Nov 17 2010, 09:14 PM) Hi Mario, I don't know BC paperwork, but I would guess there's a spot to enter this kind of information. It might be called something different. What are the line items in the pricing section of the standard offer contract? If you can scan a...

QUOTE (Dan_Eisenhauer @ Nov 17 2010, 02:08 PM) One thing to keep in mind is that when you do an AFS in BC, you trigger PTT the day the agreement is registered. If you do an RTO that PTT is delayed until the actual closing. One lawyer who knows a lot about RTOs and AFSs in BC is Rick Ledding...