All posts by Navtaj Chandhoke

Navtaj Chandhoke is a veteran Canadian Real Estate investor, Master Coach/Mentor/Speaker
& Canadian hard money lender . Join now
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Canadian Real Estate Apprentice

Announcement: RCMP commends Navtaj’s article on Grow op Houses

 RCMP commends Navtaj's article on Grow op Houses

Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author and educator. He is the founder of the Professional Real Estate Investors Group (PREIG) Canada and World Wealth Builders leading real estate investor’s education, support, network and mentoring program. He has been proving real estate education since 1993.

On April 27th, Navtaj Chandhoke received an email from RCMP’s Communication Strategist of Serious and Organized Crime, Marc-Andre Massie. This email stated that they commend his recent article in reference to the RCMP’s strategy to combat illegal marijuana grow operations and the related organized crime groups. The Professional Real Estate Investors Group (PREIG) Canada is supporting the RCMP initiative and is engaged with promoting the Marijuana Grow op houses Initiative (MGI).

In this article, Navtaj Chandhoke stressed that every Canadian Real Estate Investor should always do their due diligence and if required, check the RCMP website to verify if the property has ever been a Grow op houses. Grow op houses can be health hazards causing problems such as mold. Due to the nature of this crime, it has the potential of devaluating the property prices as well as the value of all the properties in the neighbourhood which in return will affect any investment strategies.

Every province has different laws, in many cases it is not part of the law to give full or even partial disclosure to the new home buyer or the real estate investor.

The majority of Canadian Real Estate investors prefer to invest in safer communities where they can create good rental pools for people who prefer to rent or lease.

The RCMP is launching the website to let Canadian’s know which properties were grow ops, which can raise a red flag. The RMCP is also seeking approval from Navtaj Chandhoke to reference his articles into their monthly MGI, which gets sent to their entire force. They have also requested to continuously receive more insights from Navtaj about upcoming events, information and support that would benefit the RCMP.

Your success is our business!
Navtaj Chandhoke
Website: www.WorldWealthBuilders.com | www.preigCanada.com
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Announcement: Acquiring Tax Sale properties in Canada

Acquiring Tax Sale properties in Canada

Secrets of Super Wealthy Professional Real Estate Investors part 1 of 10

Many provinces in Canada levy property tax on Real Estate based upon the current use and value of the land and this is the major source of revenue for most municipal governments in Canada. While property tax levels vary between municipalities in a province there is usually common property assessment or valuation criteria laid out in provincial legislation. The municipality has the right to collect property taxes owing even if they have to sell the property to recuperate the property taxes owing. These properties are never listed on MLS or Real Estate Brokers. This is another secret of super wealthy Professional Canadian Real Estate Investors and or Apprentices to acquiring Tax Sale properties in Canada

The secret of super wealthy Canadian Professional Real Estate Investors and or Apprentices have used this secret to build huge wealth. The city or municipalities are not required to sell these properties at market value, instead they sell them for the amount of taxes owing. This way the Professional Real Estate Investors can buy a property for 10 cents a dollar. The key is to learn the act, law and the process to find and finance them and than make a great fortune.

What is a Canadian Property Tax Sale

Simply put, tax sales are public auctions where properties are sold to the highest bidder.  Throughout the year, cities, towns, villages, townships and municipalities, in each province, compile a list of properties against which taxes have been outstanding for at least two consecutive years.  After this two year period, the municipal treasurer prepares a tax arrears certificate and registers it against the property in question.

This certificate gives an accurate description of the property and indicates that the land will be sold by public sale if all taxes are not paid to the municipality within one year of the registration of the certificate.

In spite of the municipality's efforts to collect these taxes, they often go unpaid and the properties are put up for auction, allowing the public and the super wealthy Canadian Professional Real Estate Investors and or Apprentices the opportunity to purchase these properties and this is how you get real bargains.  Property can be bought for as low as 10 cents on a dollar.

Professional Canadian Real Estate Investors and or Apprentices can buy property "free and clear" at a tax defaulted deed auction. These taxing agencies sell property to the highest bidder in an effort to recover the original taxes and costs due.

 Why the Canadian Property Owners don’t pay their Property taxes?

There are many reasons why properties are sold for non-payment of taxes. Some of the most common ones are financial difficulties, law suits, ignorance, death of an owner (with no apparent will or heir), owner living abroad and not realizing his/her obligations, owner moved and cannot be traced, disputes of ownership with no party resorting to the courts for settlement, etc....

How to become a Professional Canadian Real Estate Investor and/or Apprentice

Proper education and training makes all the difference!  By becoming an Apprentice of World Wealth Builders and a member of the Professional Canadian Real Estate Investors and or Apprentices website, you will have access to:

 

1.       Current Listings of Tax Sale Properties being sold for delinquent taxes

2.       Sheriff sales (property seized by local authorities)

3.       Canadian Grants

 

The Property Tax Sale advertisements are gathered directly from many different sources including the websites of the city and the provincial courts.

 

What kind of properties get SOLD In Canadian Tax sales

They can include vacant lands (such as bush lots and timberland), improved lands (such as farms, cottages and houses), commercial or industrial properties, and occasionally islands. They vary from small lots to large parcels, with hundreds of acres.

 

How do the Professional Canadian Real Estate Investors and/or Apprentices BUY these properties at basement bargain prices

First you have to learn the proper law, act and its implementation including the exemptions. Proper education, training and knowledge in order to obtain where, when and how to do it is mandatory unless otherwise you want to buy a lemon....

There are two ways in which tax authorities sell properties: either by public auction or public tender, with sealed/closed bids.

Public Auction for Canadian Tax Sale Properties

This format is similar to other auction formats.  An auctioneer accepts bids from several bidders and then recognizes the highest bidder as the winner.  The place, date, and time of the auction will be clearly defined by the municipality and can be found in the auction advertisement on our website.

If you are the highest bidder, you will be required to pay the amount that was bid and any applicable land transfer tax to the auctioneer by money order, bank draft or certified check.

Public Tender for Canadian Tax Sale Properties

If you wish to submit a tender, you can ordinarily obtain a tender form the municipal office, which will be identified in the sale advertisement on our website. Your submitted tender should be accompanied by a deposit, usually 20 percent (but specified by the sale advertisement) of the tender amount, in the form of a money order, bank draft or certified check.

Your tender form, along with the deposit, should be enclosed in a sealed envelope, which is labeled as "tax sale for" and a short description or municipal address of the property to indicate which property the tender is for. Then, enclose that envelope in a second envelope, addressed to the treasurer of the municipality, as indicated in the sale advertisement and on our website.

The above article provides general commentary of an educational nature. It does not constitute advice for any specific person or any specific set of circumstances. Because circumstances vary, readers should consult professional advisers in order to obtain advice that is applicable to their specific circumstances.

 

Your success is our business!
Navtaj Chandhoke
Website: www.WorldWealthBuilders.com | www.preigCanada.com
Newsletter: Subscribe  REI Club Membership | Apprenticeship | LIVE Training
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1-416-409-7300

Get on the bus

Fell Flat On my Face for 3 long years!

Get on the bus

 

 

 

 

 

Get on the bus

Get on the bus instead of missing the bus came from students with their own experience. Here is what this person have to say:

I missed an opportunity to make a pile of cash in what was said to
be the fastest millionaire making in Canadian Real Estate market. I met Navtaj Chandhoke when I attended his Canadian Real Estate seminar. During the presentation, I knew I must learn more to change the game but instead, I began to procrastinate. 

Continue reading Get on the bus

Real Estate Training Canada LIVE

One Moment Please .....

Real Estate Training

 

 

Real Estate Training

Your success is our business!
Navtaj Chandhoke
Website: www.WorldWealthBuilders.com | www.preigCanada.com
Newsletter: Subscribe  REI Club Membership | Apprenticeship | LIVE Training
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1-416-409-7300

 

Healthy Homes Renovation Tax Credit for Seniors

Ontario Seniors get $10K Tax Credit for Renovations

Ten thousand dollars in Tax credit will be available for Ontario seniors to renovate and improve accessibility. The bill passed in Ontario government with majority in favor.

It was a promise Premier Dalton McGuinty made a year ago during the last election campaign.  Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada said, "The tax credit is up to $10,000.00 in eligible home renovations or 15% up to $1,500 each year"

Health Minister Deb Matthews says in a press release.This Healthy home renovation tax credit will also help achieve the goals of our Action Plan for Health Care by keeping our loved ones out of hospitals and long-term care, and at home, where they want to be.

Homes Renovation Tax Credit Continue reading Healthy Homes Renovation Tax Credit for Seniors

Charity Dinner For Hospital Sick Children Foundation Toronto

You are invited with your family to attend 25th Annual  Charity Dinner For Hospital Sick Children Foundation Toronto

All proceeds will be donated to Charity Dinner For Hospital Sick Children Foundation TorontoSickKids

 This is family event where all can come and contribute  for Charity Dinner For Hospital Sick Children Foundation Toronto.

Your participation in any form will be greatly appreciated.

Date Saturday Feb 20th,2016

Time: 6:30pm-10: 00pm

Place Pleasantview Arena
545 Van Horne Ave.
North York, ON M2J-4S8
416-395-785

Tickets $25.00/family at the door

Charity Dinner

 

 

 

 

 

Checks are payable to  Hospital Sick Children Foundation Toronto

Enjoy the evening starting with  Chai, Soft Drink and Snacks

Children would have games including wheel of fortune,

Local artists will entertain you including award winner Bhangra teams

Vegetarian Dinner will be served followed by Dutch auction and Bingo

Lots of door prizes and evening to remember and a part of a worthy cause!!!!

Donate a gift, Be a sponsor for Charity Dinner For Hospital Sick Children Foundation Toronto

Suggestions are very welcome.

Charity Dinner

Your success is our business!
Navtaj Chandhoke
Website: www.WorldWealthBuilders.com | www.preigCanada.com
Newsletter: Subscribe  REI Club Membership | Apprenticeship | LIVE Training
Blog | Facebook | LinkedIn | Google+ | Twitter  
1-416-409-7300 

 

Mortgage Investment Corporation (MIC)

As a full-time Canadian real estate investor, we are required to have a good working knowledge of mortgages, joint ventures, and methods of purchasing properties with creative financing.

The Mortgage Investment Corporation, aka MIC, is a corporation who has been given a special designation by Canada Revenue Agency, as highlighted in the section of 130.1 of the Income Tax Act.

It is a Canadian Corporation which allows investors to invest their RRSP, RESP, RRIF, and money in a pool of mortgages (mostly residential mortgages) where the properties are located within Canada.

The infrastructure of Mortgage Investment Corporation (MIC) is almost similar to a mutual fund.

Continue reading Mortgage Investment Corporation (MIC)