Tag Archives: Canadian

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
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Real Estate Training Canada LIVE

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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

 

Top 10 tips to save yourself tax dollars in Canada

 “Canadian taxes rarely cause excitement for professional real estate investors but following the simple rules by

Canada Revenue Agency CRA can provide you all the guidelines to save money” says Navtaj Chandhoke of Professional real estate investors group (PREIG) Canada. The rules are constantly changing and tightening,Don't despair; there are still simple ways for Canadian real estate investors to limit their tax exposure. Here are top 10 tips to save yourself tax dollars in Canada. And there are three bonus more optional tips.

Top 10 tips to save yourself tax dollars in Canada
Top 10 tips to save yourself tax dollars in Canada

Continue reading Top 10 tips to save yourself tax dollars in Canada

Tips To Reduce Income Taxes

The Canada Revenue Agency encourages Canadians to file and pay on time and online using it’s quick, easy, and secures electronic services.

Pay in Time-As has been the practice of the CRA when April 30 falls on a weekend, this year's filing deadline extends to Monday, May 2, 2011. You have until midnight on May 2 to file your 2010 income tax and benefit return and to pay any balance owing.

Reduce Income Taxes Continue reading Tips To Reduce Income Taxes

Cash buyers for real estate

Canadian real estate cash buyers are vital in investing in Canadian real estate. The fastest way to build your cash buyers list is to meet them in person at the Professional real estate investors group (PREIG) Canada's network meeting.

Wholesale Canadian real estate investors are at real estate investors monthly meeting to connect with Canadian real estate cash buyers as well as seeking for discounted deals.

Continue reading Cash buyers for real estate

Tax Credit and Savings – Canada Economic Action Plan

Canada Economic Action Plan

Tax Credit and Savings

“Canadians can take full benefit from the following Tax Credit and Savings provided they are aware of them. As Canadians prepare to file their 2012 taxes, they will be able to claim the Family Caregiver Tax Credit for the first time. Claiming these credits by filing online and using direct deposit will, in most cases, help Canadians to receive a refund in as little as eight days, compared to four to six weeks for a paper return” says Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada, the largest Real Estate Investors network group in Canada.

Continue reading Tax Credit and Savings – Canada Economic Action Plan

Top 10 Reasons to join REI Club Network

Reasons to join REI Club Network

Reasons to join REI Club Network

The importance of attending Professional Real Estate Investors Group (PREIG) Canada networking is more than meeting new people. It is also part of branding yourself. Investing in Real Estate is peoples business. It’s very interesting and brings up some very good points and tips on how to grow your Canadian real estate investments through networking.

Continue reading Top 10 Reasons to join REI Club Network

Whistler Home Owner Grant

Whistler Home Owner Grant

Half Price home-ownership in Whistler-BC, Canada

“You can own a house in Whistler at half price provided that you are employed in Whistler, This is a unique program run by the Whistler Housing Authority. They range in size from studio condos to duplexes and single family homes” say Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada.

“Would-be owners have to be employed in Whistler to buy one. Prices are allowed to increase only a certain amount per year, with the price of most units are tied the consumer price index.”

What are the qualifications for purchasing through the Whistler Housing Authority?

All applicants must be of legal age, Canadian citizens or landed immigrants, must be qualified employees or retirees, and must be pre-approved for a mortgage. Employees must work a minimum average of 20 hours per week within Whistler. A retiree is someone who was employed in Whistler for five of the six years prior to ceasing employment. Applicants or their spouse must not own, either personally, jointly or indirectly through a trust or business assets, any non-restricted real estate in Whistler at the time of the application.

Half-price home-ownership in Whistler-BC,Canada

The bottom line: the two-bedroom townhouse that could be worth about $500,000 is sold for half that. It's a strategy that's allowed local employees with moderate incomes to buy in, but they also don’t get cash in by capitalizing on real market values when it comes to selling their homes.

The program, launched 15 years ago, has been funded by contributions from commercial developers. There are tradeoffs, such as foregoing the chance of striking it rich in real estate. But they make other investments and still get a home in Whistler, surrounded by families who live and work there.

More info at http://www.whistlerhousing.ca/about_wha_ownership.html

What do I need to do to get on the Whistler Housing Authority Purchase Wait list?

If you qualify under the Wait list Guidelines and you have been pre-approved for a mortgage, you can fill out an Purchase Application. This Application is a legal statutory declaration and therefore you need to have it notarized (can be done free of charge at Municipal Hall). As well, we need proof of citizenship or landed immigrant status and proof of employment in Whistler.

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 

How do I find out which resident restricted units are for sale?

Once you are on our Purchase Wait list, we will contact you when a unit comes available for purchase. Applicants are prioritized on a first-come-first-serve basis.  You can view the Calendar of Open Houses under the Purchase section to see when open houses are scheduled for available units.

How do I find out what price to offer for a unit?

The Whistler Housing Authority calculates the maximum resale price using the covenant formula, and advises vendors and the purchaser of this price. You can also view the Historical Resale’s under the Purchase section to see what other units have recently sold for.

What type of restrictions may apply to the resident restricted units available for purchase?

There are some units that are only occupancy restricted, which are required to be occupied by either a Whistler employee or retiree. There are also units that are both resale and occupancy restricted, which must be occupied by a Whistler employee or retiree and the resale price of the unit is controlled by the Whistler Housing Authority.

Once I buy a resident restricted unit, can I stay on the Purchase Wait list?

Yes, but your name will be moved to the bottom of the wait list when you purchase a unit.

Why is there a resale cap on the resident restricted units?


In order to maintain a stock of more affordable housing in perpetuity for Whistler resident employees and retirees. The object is to start it lower and keep it low. The Whistler Housing Authority calculates a maximum resale value for every resale restricted unit. Depending on the unit, the resale appreciation is either tied to the Royal Bank of Canada prime lending rate, the Greater Vancouver Housing Price Index or the Canadian Core Consumer Price Index. All resale’s and future developments maximum resale value will be tied to Core Consumer Price Index. If the units did not have resale restrictions, they would eventually become the same price as housing in the private market due to demand.

How many resident restricted units exist in Whistler?

As of 2012, there are 862 price restricted ownership units and 232 Whistler Housing Authority managed rental units. In total there are 1,875 units (5662 beds) including owned and rented units, that form Resident Restricted Inventory in Whistler.

 

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

 

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