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  1. Tim Blake

    Bridge Financing 1st Mortgages Available

    Bridge Financing (Alberta only ) for flips or BRRR's Funds available to lend on 1st Mortgages (my funds not a broker) 3-12 Month terms 12% Interest only (No lender fees or points) 75% Loan to Value Very quick approval + funding especially once we have done more than 1 deal together. Ideally...
  2. Tim Blake

    Locking Mortgage Rates in my take

    You typically pay a much higher interest rate to lock in then available on variable . I have always looked at it as your going to save $ on the first while for sure maybe a couple rate bumps may happen during the term ( or may not) but then you will be up to the rate your would have been locked...
  3. Tim Blake

    Locking Mortgage Rates in my take

    It was free money ! Have a look at the mortgage statements in 2016 before the cashback then 2017 after the cash back. Notice balance has went down in 2017 It really was a cashback that didn’t get paid back. Was skeptical of free money also and went over it with banker several times to insure...
  4. Tim Blake

    Locking Mortgage Rates in my take

    Locking mortgage in may make sense now ! I have typically mostly went variable as rates usually lower. But just now locked in a 5yr fixed on several properties at several different banks. Always ask for discounts after they initially quote you rates. They usually come down If you are like...
  5. Tim Blake

    Opinions of future of Alberta

    Hang in there ! If you NEED TO sell 1 or 2 to do so but if you don't need to just hang on . 10 years from now if you still have them you will be glad you did. We have had no appreciation in many parts of Alberta in a decade The world still needs our products and we will eventually get through...
  6. Tim Blake

    Real estate brokerages

    I decided to get my license a few years ago as the volume of transactions I was doing and planning on doing justified it. If you are doing it purely for your own transactions (won’t be listing working with buyers and sellers )as I did ( I actively work with clients on Commercial deals though)...
  7. Tim Blake

    Condo Conversion ?

    Has anybody successfully completed a condo conversion ? I have a 5 bay shop under contract that is already titled 5 separate condo but has been operating as a multi unit owned by one owner. No condo reserve or fees ect I know most of the heavy lifting is done. Would love to talk to someone...
  8. Tim Blake

    High Level / Lacrete Area

    Hi Anyone from the High Level / Lacrete area ? Looking to talk with someone in that market Thank you
  9. Tim Blake

    Grande Prairie Apprentice

    Yes . Seems every oil + Gas company is holding job fairs and blasting the radio with hiring ads. The wages that they are offering are still much lower than prerecession so we arent getting some of people who left the area or industry back yet... This is definately a town that feels the cycles...
  10. Tim Blake

    Grande Prairie Apprentice

    Hi Stephen I am finding the vacancy rate here in Gp is down to about 5% down from 20% last fall. Rents drops have ended and rents are slowly ticking up (small increases now ) the rental rates here dropped about 25% from 2014 -2016. I think it is a great time prices are flat rents are...
  11. Tim Blake

    Grande Prairie Apprentice

    Looking for a part time(as little as a few hrs a week or more ) apprentice /someone looking to learn about Real estate investing could be work for coaching exchange or some paid tasks . Ideal candidate will be a Grande Prairie area newer REIN member or someone who owns at least one rental...
  12. Tim Blake

    Seeking tips for interviewing a real estate agent

    I HIGHLY recommend selling your homes vacant even if you have to pay your tenants to leave tenanted homes are hard / agents prefer not to show them if they have other options and very rarely do they show well . You will get a lot more for them then the cost to get tenant out and few months of...
  13. Tim Blake

    Grande Prairie Stats

    Here you go New Homes and Duplex city of Gp May 2016 Total Sales 12 ( -50% YOY ) AvgPrice $362,100 ( -10.38% YOY) May 2015 Total Sales 24 (45.46-% YOY) Avg Price $404,000 ( +2.64 YOY) May 2014 Total Sales 44 Avg Price...
  14. Tim Blake

    Grande Prairie Stats

    Just pulled stats for May in Grande Prairie though I would share All existing Homes and Duplex (not new ) city of Grande Prairie May 2016 Total Sales 77 ( -40% YOY ) AvgPrice $310,100 ( -5.83%...
  15. Tim Blake

    Grande Prairie Property management Revisited

    I know there has been extensive discussion on the lack of good property management in Gp in the past (as I was very involved in them) Havent heard anything on this in a couple years and I would like to offload my portfolio of single family homes if I can find a capable manager. Because of...
  16. Tim Blake

    Grande Prairie Property Management

    Hi Fellow Investors I understand your frustration with property Management in Grande Prairie. I have been a local investor in Grande Prairie since 2002 and have twice trying to get away from managing my own properties as it is like many others my least favourite part of real estate. Both times...
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