You might be aware of advertisements on Canadian real estate investorswho purchase houses for cash entirely with fast closing to satisfy the needs of sellers. You may ask yourself what sort of business is buying houses? There are several reasons for buying houses in Canada and so, for selling houses.
Professional real estate investors group (PREIG) Canada helps fellow Canadians in need and we buy houses in Canada for cash with fast closing. We buy houses in Canada to provide instant cash, fast closing to avoid foreclosure, eviction and help fellow Canadians to downsize and move forward.
Here at Preig Canada, we understand the urgency of time and money. We will make a written offer for you to review it with your real estate lawyer and get independent legal opinion.
With deep roots and insights in finance and Canadian real estate, we have helped innumerable Canadians to sell their homes without much of hassles whatsoever.
We buy houses in Canada
We are cash home buyers. The reason you want to sell your home for cash and fast is important to us to make sure that you are able to move forward. We are here to help.
We buy house due to Canadian Home owners are facing one of following challenges;
By doing so, we have helped innumerable Canadians in need of money get quick cash. We buy any and almost every type of homes and properties. Therefore, Canadian property owners who must sell due to relocating or need fast cash owing to an urgent need, want to sell properties without involving in lengthy and cumbersome procedure.
We buy homes in Canada in any condition and irrespective of the location and condition. Despite the price range and condition of the property, we help Canadian property owners dispose of the property right away. Moreover, we offer no obligation offer to enable Canadian home owners to make the right decision for them.
Canadian professional real estate investors learn during the apprenticeship some hardcore facts about Canadian real estate investments. Buying and selling requires some insight to be profitable. Since spring and summer months are notoriously the best time to sell real estate in Canada, fall and winter may be the ideal months to buy real estate.
1. Fewer buyers are in the market – less competition
Competition for houses drops off in the fall in Canada, a time when most people consider it to be off-season in real estate. But there are still homes for sale – and in some cases, there’s just as much inventory as there was during the spring and summer. Fall means new inventory and repositioned old inventory that did not sell in the prime season.
This puts Canadian professional real estate investors at a great position to negotiate. Fall Canadian professional real estate investors should consider making aggressive offers, followed by more aggressive negotiation. Many panic sellers are motivated to sell before the holidays. If possible, Canadian professional real estate investors should let these sellers know that they can close before Thanksgiving or before the school winter break.
2. Greedy sellers can be tired and frustrated
Some greedy property sellers who put their homes on the market during the prime selling times of spring and summer might have been overconfident by listing their homes for more than buyers were willing to spend. After months of little or no action, these tired and frustrated property sellers are often ready to make a deal.
Canadian property owners who were unrealistic earlier in the year about price will now be more willing to reduce the price come fall. Because there are fewer buyers and because the property owners are now eager to sell, they are more inclined to take the lower offer than wait another six months for spring to come around.
3. Sellers become more serious
Not all homes on the market in fall are summer leftovers. Some Canadian home owners need to sell in the fall because the timing is right. Maybe they were having a home built and it’s now ready. Maybe they need to move because of a job. The sellers with houses on the market in the fall tend to be serious. That means sellers could be more open to negotiating and accepting a reasonable offer.
4. Fall is a better time of year to buy Canadian real estate
Waiting until the fall (to buy) gives you an advantage when learning about a home and the neighborhood. You’ll be settled in your home and can take precautions – like setting up that new alarm system.
5. You’re the center of attention
Because spring and summer are ideal times to buy a home, realtors are usually busier then. And that could mean you might not always get the attention you want. This is also true for other professionals you’re working with to buy a house. Service providers, such as mortgage lenders and real estate professionals, can often respond more quickly since the summertime crazy market has slowed down.
The same goes for movers. Because summer is peak moving season, Canadians often experience more delays and service issues, such as moving companies reaching capacity and running out of trucks to pick up shipments. The probability of experiencing a delay goes way down in the fall season.
6. You can take advantage of end-of-year sales to outfit your home
More than likely you will be making improvements to your new home after your purchase. Most likely you will need to buy items to maintain your home, and if appliances did not convey with your purchase, you will need to buy those as well.
Wouldn’t it be great to coordinate your home purchase with sales on items you’ll need? September is a great time for buying carpet and paint. October means lawn mowers go on sale, and appliances and cookware are cheaper in November. November is also a great time to take advantage of retailer holiday sales items, which seem to be abundant that time of year.
The best advice is to learn from fellow Canadian real estate experts with decades of experience and proven results.
Always learn from a Canadian real estate investment expert with proven results before investing in Canadian real estate.
We are sincerely devoted to helping you create wealth for life with spectacular results in Canadian real estate investments.
Sign up below to receive profound inspiration and powerful tools so you live at wow.
Beware; there are the hidden costs of selling your property in Canada you might not know about. Are you been thinking of selling your property and maybe moving into retirement living you’ve been checking out? Selling your property can be a very profitable affair, especially if you have had that piece of property all your life. That means you may have bought it at time when property was not very expensive and could be enjoying the appreciation, which has occurred over the years. However, there are hidden costs of selling your property in Canada involved in selling your property and before you list your property for sale, you might want to check out these costs.
Hidden costs to sell your sell your property in Canada are:
Are you going to sell your property through a real estate agent or try selling it on your own? The fee is approximately 6% plus taxes.
How much do you estimate it will cost to prepare your property for sale?
Do you know what would it cost to pay off your mortgage including penalties, discharge and other charges?
Are there any repairs or upgrades you need to do that would help sell your property?
Are you going to hire a professional to stage your property?
Staging is changing the appearance of your property to make it more appealing to potential buyers—for example, renting furniture for a room.
Clutter, Grime, and Odors. Deal with it…
Living in our homes, we get used to things and we like them that way. All the family photos and bowling trophies may be family treasures but to a buyer trying to imagine themselves at home, too much information is a turn-off.
Other hidden costs of selling your property in Canada
The prepayment charge for a closed, fixed-rate mortgage is usually the greater of:
three months' interest on the outstanding balance of your mortgage, or
the interest rate differential (IRD): an amount based on the difference between two interest rates. The first is the interest rate for your existing mortgage term. The second is today's interest rate for a term that is similar in length to the time remaining on your existing term. For example, if you have three years left on a five-year term, your lender would use the interest rate it is currently offering for a three-year term to determine the second rate for comparison in the calculation.
When you’re selling your property, especially if it’s an old one, chances are there are many things that need to be repaired or replaced. Perhaps that 1990s toilet needs to be revamped or the kitchen cabinets need to be changed. It’s easy to get carried away with repairs. Think about it, you’re finally getting around to all of those things that you were meaning to get done over the years. The list could include light switches, dimmers, painting, re-grouting, and while they sound small, it’s these little things that can easily turn into thousands of dollars, especially if you’re hiring an expert to do that for you.
What you need to do is to pay attention to the repairs that have a major visual impact and would affect the property value. For example, a new kitchen would excite buyers more than new room carpets.
At the end of the day, the more prepared you are, the smoother the process and the less expenses you will incur. It all comes down to clear thinking and a few calculations, to make sure the cost of selling isn’t eating too far into your well-earned capital.
Failing to Complete Disclosures
CAVEAT EMPTOR, BABY!
Being upfront about any issues with your home will save you time, money and face. You may not want to mention the time the firetrucks showed up or the time you flooded the basement.
When do you report a capital gain or loss?
Report the disposition of capital property in the calendar year (January to December) you sell, or are considered to have sold, the property.
Regardless of whether or not the sale of a capital property results in a capital gain or loss, you have to file an income tax and benefit return to report the transaction (even if you do not have to pay tax). This rule also applies when you report the taxable part of any capital gains reserve you deducted in 2014.
A donation of securities to a registered charity or private foundation does not trigger a capital gain.
If you sell an asset for a capital gain but do not expect to receive the money right away, you may be able to claim a reserve or defer the capital gain until a later time.
Reporting the sale of your principal residence to Canada Revenue Agency (taxman)
When you sell your principal residence or when you are considered to have sold it, usually you do not have to report the sale on your income tax and benefit return and you do not have to pay tax on any gain from the sale. This is the case if you are eligible for the full income tax exemption (principal residence exemption) because the property was your principal residence for every year you owned it.
Starting with the 2016 tax year, generally due by late April 2017, you will be required to report basic information (date of acquisition, proceeds of disposition and description of the property) on your income tax and benefit return when you sell your principal residence to claim the full principal residence exemption.
Are you aware of hidden costs of selling your property in Canada? What other costs should you be aware of when looking to sell? Have you sold your property in the last 5 years? We buy houses for cash with fast closing.
Canadian Real Estate Investment coaches will help you kick start your Investments and will make sure you succeed. Coaches can help you increase your investing skill and provide you with continuous support.
Both rookies and veteran real estate investors need to implement new strategies and tactics to improve their business and be successful. There is always a way to sharpen your skills to create more success. Goal Setting is one of the most necessary components of success.
Did you know 95% of people in this world do not set goals?
It is shocking to know most people do not have any kind of written goals. Some people just let the world push them around, instead of setting goals and going where they want to go. They may be in a job they had no intention of getting, but are there for years; they may be in a relationship that they had no intention of being in, but are in it for years because it is easy. Now, I don’t want to sound like Dr. Phil here, but my point is if you have no clear, defined goals pertaining to your real estate investing business, you will have an unsuccessful or at best, very average business.
Part of the 5%As a full-time real estate investor, we need to be part of the 5% that have clearly written, defined, tangible goals, that are cast out 20 years, 10 years, 5 years, etc, and then brought down to months, and then weeks.
At that point you need to make daily "to-do" lists which keep you going.
Our goals, as a whole should include financial, relational, personal, spiritual, and educational goals. No one is successful with a vague goal like "I want to make money", you have to set realistic financial goals that are specific.
Tangible goalsI highly recommend that you have a tangible goal that you can, once achieving it, can touch, can feel, and can be proud of, and money will become a byproduct that comes from achieving that particular goal.
Long term and short term
So set goals for yourself that involve a long term plan, and a short term plan, and you will have the incentive to do what is necessary in order to accomplish these goals, and create a wonderful, rewarding, and lucrative business for yourself.
Canadian Wealth Builders offers many unique, practical, out of the box real estate investor trainings which offer the student hands on, in the trenches style instruction. To find out more, please go to www.Flipping4Profit.ca
Very few Canadians like to uproot their family and go through the stresses of home buying and moving during the winter & holidays, but for those who do not mind, the holiday season may provide home buying bargains for Canadian professional real estate investors.
Reasons to buy home
Less Market Activity
– Lots of family, school, and work activities, combined with the weather in many locations, lead to fewer real estate transactions over the winter & holidays. Since fewer people overall are looking to buy houses, you will have less competition for your preferred house – and this gives you leverage.
Winter & Holiday home sellers often have to adjust their price downward or make other concessions if they want to sell. Keep this in mind as you search for homes. Bargains may be available, and listed prices may be more open to negotiation.
Clearance Sale Canadian home builders end up with surplus properties as well as those properties with a new buyer befalls. They are happy to find Canadian real estate investors to buy the property at a whole sale price. This is very common among condominiums in slow markets.
Circumstances Canadians sometimes have to sell their home but not by choice, but due to circumstances beyond their control. That is due to sickness, loss of job, transfer, death, divorce or drugs. Since there are not that many active buyers during the holiday and winter months, it is a perfect time for investors to scoop these types of deals without any competition.
Power Of Sale/Foreclosure
Due to time and legal obligations the lender have no patience but to sell these properties as soon as possible to recuperate and safeguard their investments. During holidays and winter times a lot of jobs intend to disappear and a lot of home owners start defaulting their mortgage payments. Remember always buy pre-power of sale or pre-foreclosure Canadian real estate.
Estate Sales are the sales with next of kin have inherited these properties by default due to the laws of the country there are a lot of financial obligations which include capital gains, taxes and outstanding bills. These properties need to be sold in urgency because most of the time they are empty and are not in good shape. These are perfect properties for Canadian real estate investors to fix and flip for instant profits.
Motivated panic sellers
People who are selling their homes over the winter & holidays often have great incentive to sell, such as upcoming job relocation. If a house has already been on the market for some time, that incentive is multiplied.
You may be able to use this urgency to your advantage (assuming you are not in a similarly urgent need to buy). Negotiate fairly but firmly with sellers and you should be able to extract a lower price and/or other concessions like paying part of the closing costs.
Potential Tax Advantages – If you itemize your taxes, you can deduct any points you paid upon closing, as well as property taxes and mortgage interest. Whether it is to your advantage to buy before or after year’s end depends on factors such as how many other deductions you have this year and expect to have next year.
Better Interest Rates – Within the general trend of interest rates, there is often a cyclical trend of lower interest rates during the winter & holidays – not from the generosity of lenders but due to limited demand forcing greater competition among Canadiu
There are plenty of factors that can obscure or swamp this cycle, but in general, you should see preferable interest rates around the winter & holidays compared to the times immediately before or after.
Generally, all parties involved have incentive to complete transactions toward the end of the year. Lenders want to close their books, real estate agents want to receive their commissions before the year closes, sellers want to move on to their new home and settle in for the winter & holidays – and just like the sellers, you want to settle in as well.
Since all parties are motivated and there are fewer transactions taking place during this time, it should be easier to put everything in place for a smooth and rapid closing.
These factors do not always apply. For example, if you are trying to buy a home in a winter ski resort area or similar high-demand winter destination, these dynamics may be reversed – except for the tax implications. However, for the majority of Americans, the winter & holidays represent an opportunity to buy a home under mostly favorable economic conditions.
The weather may still be frightful, but your opportunities to buy a home around the winter & holidays may be just as delightful. Enjoy the holiday season as you explore your options. Don’t forget to give Santa your new forwarding address!
Canadian Real Estate Investors find deep discounted Canadian real estate for quick flips. The property owners are usually in a situation where they must sell the property for cash immediately and some of these circumstances include: seizure, pre-foreclosure, pre-power of sale, leins or judgements. These sellers are usually in a panic to sell their home and are willing to sell it at a deep discount to a Canadian Real Estate investor, who then proceeds to assign the property by putting the property under contract, and then selling the contract. Even with a lack of credit or cash, quick flips only require proper training by attending the Eye-witness Canadian real estate investment training as well as the Canadian real estate investment strategy apprenticeship.
Acquiring deep discounted Canadian real estate deals:
To acquire deep discounted Canadian real estate deals, Canadian real estate investors need coaching and eye-witness training to properly use the top 10 sources of finding deep discounted real estate deals. All of the Canadian real estate millionaires and billionaires built an entire empire off of these unconventional tactics.
Leverage is the most important component of investing in Canadian real estate. Most of the Canadian real estate investors borrow 100% of the money. The down payment is included in this, and owner financing, joint ventures, line of credit or equity of the house is usually used as the main source of the down payment. To have a large rate of return and leverage a property at its maximum, this is the only investment in this universe that is worth it.
100% financing (investment property):
Financing a property 100% makes your life a lot easier because it provides so many more options because of the emergency funds you have from a cash money partner, joint venture partner or your personal line of credit, you can write off interest expenses on the down payment, closing cost and renovation cost.
The average rate of appreciation for Canadian Properties is 4.73% annually. Since you are only investing 5-20% of your own capital, the other 95-80% of the capital usually comes from a Canadian banker or lender. The current appreciation is from 10-17% annually because the mortgage rates are so low and the market is booming. This appreciation can make you extremely rich overnight. Appreciation of over $100,000 a year sounds impossible, but some properties in Toronto are appreciating that much annually.
Positive Cash Flow:
Positive cash flow is the only way to invest in Canadian real estate. What does it mean is the renter income is higher than your carrying cost including: mortgage payments, taxes, maintenance, and property management. Single family homes have a much smaller cash flow than multi-unit and commercial properties.
Renting out unfurnished rental units is one of the biggest mistakes a Canadian real estate investor can make. Unfurnished units typically have rent 3-5 times lower than a furnished unit, and with the cost of furnishing being cheap it is always worth it to furnish the unit. To make some extra money in the summer, you can rent out part of your house during the summer time through Air Bed and Breakfast (AirBNB). Many Canadians are using AirBNB to create extra income for themselves through their principle residence.
Mortgage pay down:
To lower the amount owing to the bank every month because of your mortgage, make the tenant pay it for you, every time the tenant pays you, you can pay off part of your mortgage. Generally speaking an average Canadian will take 25 years to pay off their mortgage on their own home. This way, your tenant is paying off your mortgage for you, and lowering the amount owed every month.
Tax Write off:
As a Canadian Real Estate investor, you can write off all business operating expenses against the rental income. To list a few expenses, your car, office staff, phones, home office and property management. Your tax accountant can tell you about a lot more as well.
Forgivable Canadian real estate grants:
The Canadian Government is very generous to first time Canadian home buyers as well as investors. From time to time Canadian government offers forgivable down payment assistance. If you want to upgrade your property and are a professional Canadian real estate investor you are eligible for multiple grants. In the in-law basement apartment suite, there are grants available to furnish it.
Forced appreciation is only for very mature and practical real estate investors. There are several techniques and tactics that a Canadian real estate investor can use to increase the value of their home. By attending the Canadian real estate investment strategy apprenticeship live, you can learn more about these techniques.
To utilize these top 10 strategies on how to make money in Canadian real estate, you require a lot of patience and training from fellow Canadian real estate investment experts.
P.S. Success isn't a matter of chance, it's a matter of choice. So it's up to you to make the right choice to become successful. If you don't know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now and making sure you make the right choice to SHOW UP!!!Learn more to earn more!
All Real Estate Investors want to be successful. Many books have been written on the subject. The newsstands are filled with magazines with hot tips on how to become wealthy by Real Estate Investing, however, the process of successful Real Estate investing really isn’t that hard if you keep in mind five simple concepts of real estate investing.
Real Estate Investing
Always keep a fund for emergencies then move onto investing long term
This means starting with your principal residence. You can start building equity early by investing in your principal residence. When you rent you do not build equity.
Let us look at three real estate investors in the same age group in hypothetical situations. All 3 retired at the age of 65 and paid $1,000 a month towards accommodation before retirement. Patrina starts at the age of 25 and bought her first house for $100,000.00 in 1985 which was financed 100%. After 25 years, her house is paid off in full for the rest of her life and she does not have to pay any rent or mortgage. This is very common among a lot of Canadians. By doing this, by the time she is 50 years old she would have a principle residence that is her retirement nest, and the chances are that the house might have tripled or quadrupled in value from what she had paid originally.
On the other hand, Bob buys his first house at the age of 35 in 1995, and Jon, 45, buys his first home in 2005. Both Bob and Jon have been saving for a down payment since they were 25 years old and have been paying rent in the mean time. Bob may have bought the same house for $200,000.00, while Jon in 2005 may have bought the same house for $300,000.00 as a result of appreciation. It will take 25 years to pay it off, but the cost of borrowing is astronomical, double or triple the amount compared to Patrina’s case. The moral of the story is to start real estate investing at the earliest age as you can and always avoid paying the rent.
Select the right mix of investments
The key component of real estate investing is three-fold. Always obtain an asset that will most likely appreciate over time. Secondly, it should save taxes. Third, it offers you passive income for life. Leverage is the name of the game. We always borrow 100%, plus all the associated costs to obtain an asset which others will pay off in the form of rent. These investments require in depth knowledge of real estate investing. A professional real estate investor does not use money from their personal bank account!
On the other hand, an educated Real Estate investor will be taking advantage of all the forgivable grants, bailouts, and handouts from all different levels of the government, as well as other agencies. This is free money which is non-taxable. You will never have to return it nor do you have to pay any interest on it. The question is what kind of properties should you have in your portfolio? The correct answer is based upon the sophistication of your education, information, time, and money. By attending Real Estate Investing Millionaire Strategy Apprenticeship, one may realize the hundreds of different ways that are non-conventional but creative. The grants can be piggy banked one after a second, after a third, and they can be huge passive income for life. All you need is a proper system which takes care of management, appreciation, cash flow, and the tax benefits.
Invest systematically and automatically
Majority of the people intend to invest only with three factors which are fear, speculation, and gambling. By doing so, they are at the mercy of the volatility of interest rates, economy, and employment. A sophisticated professional real estate investor would have none of these three factors in his equation of real estate investing.
Remembering to regularly invest can be difficult since life can be complex and busy. Setting up auto deductions from your paycheck or bank account that is invested automatically in a predetermined fashion can help. Investing within a retirement account can have a tax benefit and in some cases the employer might contribute an additional amount as well. By investing a set amount each month either directly out of your paycheck or out of your bank account, you’ll save time and won’t forget to invest in your future.
Watch your investment costs and Cash flow
There is no reason to have negative cash flow in any investment property when there are so many excellent investments, but you want to take advantage of hand outs and bail outs from all levels of government. The key of real estate investing is to always have huge positive cash flow without any liability. To learn more of the secrets, techniques, and strategies, we recommend that you must attend the Real Estate Investing Millionaire Strategy Apprenticeship.
Pay Less Taxes Legally
Are you aware of the fact that the majority of the wealthy people pay less than 5% in taxes of their gross income? The average person will start paying taxes the day they were born until the day they die. There is very little education and information available which is a privilege to super wealthy millionaires. Again, we insist that one should invest in the proper education instead of paying 30-50% of taxes of their income. Making sure you are invested for tax efficiency can save hundreds or thousands of dollars every year, which allows your investments to continue to compound for use in the future.
While these five concepts may be easy to outline, it can be hard to implement without, mentoring, and apprenticeship. To learn more one should embark on the journey to learn at the Real Estate Investing Millionaire Strategy Apprenticeship.
Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author, educator, entrepreneur extraordinaire and the founder of World Wealth Builders, a leading Canadian Real Estate investors education, mentoring center serving Canadian Real Estate investors since 1993.
Your success is our Passion!
Flipping4Profit Canadian Real Estate Investors Training & Coaching center