A  Real Estate mentor is a wise influential person or supporter who provides you with helpful information and guides you through a path towards success. Real Estate Mentors are also interested in formulating an understanding environment in which the people being mentored are encouraged to discuss their needs and circumstances willingly with confidence.

The importance of a Real Estate mentor is to act similar to a counselor or teacher. They acknowledge information and questions that people convey, then respond in a manner that the recipient will appreciate. Doing so, the recipient will value the advice and will then be courageous to move forward achieving their goal.

Real Estate mentoring is similar to an event I witnessed yesterday. Team Canada in the men’s hockey gold medal game at the Winter Olympics is a clear example of mentoring. The star player of Team Canada, Sidney Crosby, age 22, played every single game in the tournament. He is similar to someone who is real estate investor looking for success. For 3 consecutive games before the gold medal game, Sidney did not scored a single goal. Throughout the gold medal match, Sidney played his heart out but still came up short period after period. As the time was winding down, Sidney and Team Canada was looking to go into an overtime period against their opponent. This is similar to a real estate investor never giving up, no matter what happens.

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Once Team Canada entered the overtime period, their Coach instructed them to take chances by slapping the hockey puck towards the net and hoping for a good outcome. Sidney acknowledged his coach’s strategy and took action. He got a hold of the puck in front of his opponents net and took the chance by slapping it hoping it would go in somehow. The results of Sidney’s actions lead Team Canada to win the gold medal. Scoring the game winning placed him as a hero which will lead him to earning millions.

The Team Canada coach in this hockey signifies the Real Estate mentor. As a mentor, he guided and influenced his team to take chances because positive results can happen. The coach had the experience and knowledge that the players were lacking. A mentor like the coach has made mistakes in the past, and now is guiding his players to learn from them. The coach helped Sidney keep his mind off obstacles and stay on task, looking to win the gold medal. A real estate mentor helps a real estate investor keep his mind on the goal, striving to earn the best possible.

A Real estate mentor is a crucial person in the real estate business. They keep the real estate investors updated and on the edge of the blade. They share their failures, knowledge and experiences with real estate investors in order for them to avoid mistake or make positive decisions. Sidney needed his mentor  the coach in order to score the winning goal. The coach shared his strategies to outperform the competitors.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeship which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. You can attend Real Estate Millionaire Apprenticeship online or in person. To find out more, please go to http://www.WorldWealthBuilders.com

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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Align yourself with the most powerful, knowledgeable, influential, successful over 12,500+ Canadian Real Estate Investors for monthly mentoring, network and support at Professional Real Estate Investors Group (PREIG) Canada.

 P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind.

 We have been training Canadian Real Estate Investors since 1993.

Homeowners vs Renters in Canada

As a home owner, you can get into your property with very little down payment. In the next 10 years, you will have paid down your mortgage which means that you will have built equity and possibly doubled the value of the property. One of the many benefits of ownership is that for your principal residence, your equity and the appreciated value are not taxable. It is one of the only tax loopholes in Canada; you get to keep a 100% of the appreciation and equity. You can also rent out your basement and have regular cash flow every month to have more spending money or to help with your mortgage.

As homeowners and investors, people take pride in their property knowing that the property will be one of the things of high value to pass down to their children. They renovate and upgrade to make sure the value of the property increases. Emotional benefits outweigh the financial benefits, the feeling of accomplishment and pride is priceless. Owning a home is one of the largest investments you will make in your lifetime.

Canada will not tax you a single cent. This is the best loophole available in Canada. You can buy and sell your principal residence tax free. Majority of Canadians take it lightly that home ownership can make them a multi-millionaire. Once you have a pre planned goal, the missing element is always education and tax implementations. All other investments are subject to taxes and capital gains.

Once you get the hang of it, the sky is the limit, with a little time, patience, and a lot of education, you can build wealth, massive and passive income.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeship which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. You can attend Real Estate Millionaire Apprenticeship online or in person. To find out more, please go to http://www.WorldWealthBuilders.com

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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• What is the purpose of inspection clause?
• Does a home inspection condition give a Home buyer a right to cancel the
  Purchase and sale agreement or the contract any time ?
• Is the Property owners is entitled to a copy of the home inspection report if they want to share the cost of inspection?
• If the report shows only minor problems, is the seller entitled to just fix the problems and ask the property buyer to complete the transaction?
• What happens if the buyer does not obtain a home inspection at all and then tries to get out of the deal?
• Who can be the home inspector?

In general, the ethics have indicated that when buyers are trying to satisfy any condition, including a home inspection condition, they must act honestly, reasonably and in good faith.

If you are buying then the following home inspection condition shall be in your contract

“This agreement is conditional upon the inspection of the property of the purchaser’s choice and expense, and receipt of a report satisfactory to him, in his sole and absolute discretion within ten banking days failing which this agreement becomes null and void”

Then you are not satisfied with the inspection report, then you can ask for the deposit to be returned without any deductions and sign mutual release at the same time.

As a result, many sellers try to remove the words “sole and absolute discretion” from home inspection condition clauses.

If you are selling and you must insert following wording to protect yourself by  Including additional language that if the amount to correct all deficiencies is less than $1,000, then the seller has the right to correct the deficiencies before closing or within thirty days and have the right to have a copy of inspection report. The inspection must be carried out by licensed or certified home inspector who carries error and omission insurance.

If you are a buyer and any change is made to the home inspection condition clause, you need to review the changes carefully with your Realtor and Real Estate lawyer as your rights might be impacted.

Sellers are not entitled to a copy of the inspection report unless it says so in the clause itself.

If the buyer does not conduct the home inspection at all, or perhaps brings in an
Un qualified person to conduct the inspection, then the buyer must remove this condition in writing within ten banking days as per original contract.

That is why any home inspection condition must be drafted carefully and approved by your Real Estate lawyer before the offer is being presented.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeships which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to http://www.WorldWealthBuilders.com/live.html
The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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Meth labs in Canada can be nightmare for average home owner or Real Estate Investor. One of the most increasingly common used drugs in today’s society is Methamphetamine. Meth is a very powerful illegal drug. This drug not only has its downfalls while using it, but also when producing this sort of drug. There are many different forms of this drug, such as crystal meth, crank and lith. These drugs are used by snorting, smoking, and inserting needles.

There are roughly 52,000 meth users and 270,000 ecstasy users in Canada. Using a random sample of nearly 13,000 Canadians age 15 and older in 2009, the Canadian Alcohol and Drug Use Monitoring Survey found past year prevalence rates of 0.1% for methamphetamine, 0.4% for “speed” and 0.9% for ecstasy (CADUMS 2009).

Every year, homes are sold to unsuspected buyers without having an idea that the house they are purchasing was formally a meth labs. The police discover thousands of meth labs each year. In some cities, there are no rules or regulations for sellers to disclose the history of the property. Thousands of meth users do not check if the house is contaminated before selling it.

There are some ways to ensure that a meth labs was not previously being produced in your home. Buyers may check out the property’s deed with the clerk at the county’s office as it might be registered or they can go to a local police station to inquire about the house.

Many other ways to discover if a meth labs exists are by noticing a nasty smell like a cat’s urine or powerful chemicals scents. Meth lab properties tend to have their windows covered at all times or no windows at all with frequent visitors at during the night or irregular hours of the day. Meth lab equipment is very dangerous. Meth users will have high quantity of garbage. While inspecting these houses, you may come across rubber gloves, dusk masks, propane tanks, and certain substances like paint, drain cleaners, acid and iodine.

Although, if no signs are visible, it is possible to detect meth labs by purchasing meth labs kits for $55. If these tests are positive, the buyer can decide to get professional meth labs detection for about $600. Cleaning these properties may cost about $10, 000.

Meth users tend to have disordered lives. They leave in privacy and tend not to communicate with the community. The properties are left abandoned and in a mess and they lose their homes to foreclosure, which are resold for cut-price.

In Canada, the number of Meth labs seized increased by 925% from 1993 – 2003. The CBC news reports that Toronto taxpayers will pay for meth lab cleanups. A duplex was raided by the police in Toronto, on Woburn Avenue.  This property was rented with the tenants producing meth.

The production of meth labs caused an environmental and structural damage, which involves an extensive cleanup.

In the mean time, the Real Estate Board is asking the Ontario government to help inform future owners if certain properties have related histories. In Toronto, Realtors are compelled to disclose information about the property they are selling, but in many cases they are unaware of the history themselves.

The province currently has no database that can detect the history of a property or tell us if there was a meth lab or a grow-op. This seems to be a major problem which needs a solution quickly.

to read more about Grow op houses visit the link below

http://www.worldwealthbuilders.com/rcmp-commends-navtajs-article-on-grow-op-houses.html

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Wholesale Real Estate Canada,A Great Strategy for Real Estate Rookies.If you are a real estate newbie investor, say hello to your new favorite strategy! We’ll refer to it as wholesaling, but you may also hear people refer to it as quick-turning, assigning the contract, or flipping. Why will it be your favorite strategy? Easy. Because you need.

Wholesale Real Estate Canada

Wholesale Real Estate Canada does not require much cash but Having proper education,mentoring and a great connection with local REI club can make you a fortune.

• No money down
• No repairs
• No credit
• No risk
• No tenants
• No rehab
• No application
• No closing
• Get paid without owning Real Estate

Wholesale Real Estate Canada is a great way to get started in real estate. Keep in mind that you’re getting paid for doing something very important: finding good deals for others. You can help people who rehab property, people who buy and hold property, and people who rent out property. All of these people will pay you to find good deals for them.

Wholesale Real Estate Canada works with small houses, large houses, commercial property, raw land–literally every type of property. Your job is simple: put buyers and sellers together. You play the part of the middleman, the matchmaker. Below is an example to show you the simplicity of this strategy.

Example of a Wholesale Real Estate Canada

Let’s say you find a property worth $300,000, and you can purchase it from the seller for $230,000. You have 90 days to close, contingent upon your inspection (which gives you a way out of the deal if necessary). You run an ad online and in the paper that says, “Three-bedroom, two-bath house on Canada Avenue. Make an offer. Must sell.”

Don’t mention a selling price in your ad. In negotiation, the first person to mention a number loses. In addition to the ad, send emails and flyers to all of the potential buyers you know. You can also call real estate agents in the area and say, “I’ve got to move this house quickly. Do you have any potential buyers?”

From your marketing efforts, a buyer (it could be an investor or an owner occupant) agrees to buy the property from you for $240,000. At $240,000, the buyer is getting a good deal. And that works for you, as you are paying the seller $230,000. It’s a win/win/win. The seller sold the house, the end buyer got a good deal, and you pocketed the $10,000difference. Consider it a finder’s fee or assignment fees.You simply become money magnet.

Wholesale Real Estate Canada Advantages

Many new investors need capital to get started. If this is you, get your cash flow going by wholesaling properties before trying other things. Once you do a couple wholesale deals, you can try other strategies such as rehabbing, lease options, or landlording. All you will have invested is your time.

The following are some advantages of Wholesale Real Estate Canada

* You don’t need any money or credit.
* You have no tenants to deal with.
* You don’t need to get into rehab work.
* You can wholesale any kind of property.
* You have no liability if you write your contracts properly, and use the appropriate contingency clauses.
* Your profit can range from $5,000 to $15,000 per house!
* The profits from wholesaling can fund your other real estate investments and help you start becoming profitable in real estate very quickly.

The Disadvantages of Wholesale Real Estate Canada

The following are some disadvantages of wholesaling properties:

* There is no residual income.
* You won’t build up long-term wealth with these properties.
* You have to pay taxes on your profit because they are cash transactions.

Wholesaling is a good way to get started in real estate investing. And as you can see, the advantages of wholesaling far outweigh the disadvantages. If you are a real estate rookie, we encourage you to give it a try. You’ll probably find wholesaling to be $5,000, $10,000, or $15,000 of the quickest bucks you’ve ever made!

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeships which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to www.WorldWealthBuilders.com/live.html

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case.

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You have the permission to re-print this article, as long as you don’t make any changes and include the bio above.

Your success is our Passion!

Align yourself with the most powerful, knowledgeable, influential, successful over 12,500+ Canadian Real Estate Investors for monthly mentoring, network and support at Professional Real Estate Investors Group (PREIG) Canada.

 P.S. Take Action now to attend the eye-opening seminar and walk away with confidence, knowledge, and specific “action ideas” that can help you achieve your dreams and leave the rat race behind.

 We have been training Canadian Real Estate Investors since 1993.

Other People Money

Well here is the good news, do not let the lack of money stop you from taking the first steps to create and build your wealth in Real Estate. Real estate is the only investment that has produced most millionaires in Canada, and is the only investment where you can use other people’s money (OPM) to earn profit. The bank is willing to lend investors up to 80%-95% of the value of the property. The bank will not do that for the stock market or any other similar investment. A home loan is the easiest and cheapest loan to get compared to getting a car loan or a credit card.

If you have no money or if you have credit challenges, money is always available. If you do not qualify with the 8 major Canadian banks, you can try a B lender ,or a C lender,Other People’s Money and even a hard money lender.They may charge you higher interest rate but the money is always available, not so for personal or car loans.

Other than simply using other people’s money, you can also use other people’s knowledge (OPK) to benefit yourself. You may have some money, but not the necessary information to invest it on your own. If this is the case, you can partner up with someone who has the knowledge to make the deal and split the profits with them. This is a win-win scenario, without each other that deal would not have happened. The opposite is also true, you may have invested in your real estate education but do not have the money or the credit to pursue investing. If you are in this situation, you can look for and find someone who has the money but not the knowledge. These people can be your family and friends, without whom the deal would not have happened.

You can also utilize other people’s experience and other people’s connections. For this reason, World Wealth Builders stresses on the fact that it is very important to network with like minded people. One method we suggest is to join a real estate investment networking club to meet new people, connect and build a relationship with them. You never know who you may meet through them and what possible deals could come up from those connections.

Now that you own the property, after 5-10 years, once you have paid off your mortgage, you will have built enough equity in the property so that you can borrow money from the bank against the property. The loan you receive in return can be used to acquire other properties and start building your wealth. Most people are afraid to try these methods due to the lack of the necessary education and general know-how. Once you know what you are doing, it is fun and gratifying. There are also a lot of tax loopholes, advantages and benefits.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeship which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. You can attend Real Estate Millionaire Apprenticeship online or in person. To find out more, please go to www.WorldWealthBuilders.com/live.html

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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Your success is our business!
Navtaj Chandhoke

1-416-409-7300

The sale can be held by public auction, by public tender or by sealed bids.

Usually, the successful purchaser acquires nearly immediate clear title and immediate possession of the property. On occasion, the purchaser’s right to possession of the property is postponed in order to enable the delinquent taxpayer a specified period of time in which to repay the tax.

There are risks involved, but Professional Real Estate Investors who do their research are assured of returns on their investment, depending on the property. Very few legal investments can beat this guarantee. The proceeds of the sale are used to pay the unpaid taxes and other expenses that were incurred in listing the property. The balance, if any, is usually given to the delinquent taxpayer.
Occasionally, when taxes due on a property remain unpaid, the tax authority may sell, at public auction, a “lien” obtained against the delinquent taxpayer’s property.

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Canadian Tax Sale Properties

The successful bidder can subsequently convert this lien into ownership of the property if the sums due are not paid by the delinquent taxpayer within a specified redemption period. Professional Real Estate investors are aware of the risk and know that previous owner can redeem the property.
Each city, county, town, village, township and municipality in each province has their own way of dealing with tax defaulted property sales. Proper education can be key to the goldmine.

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 the opportunity to purchase these properties. This is how you get real bargains. Property can be bought for as low as 10cents or 20cents on the dollar. But these properties can only be purchased by informed educated Professional Real Estate investors.

WHAT TYPES OF PROPERTIES ARE SOLD IN TAX SALES IN CANADA?

Tax sale properties can be found in every province. 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 YOU BUY TAX SALE PROPERTIES IN CANADA?

First you have to know where and when the sales will take place, then you can proceed. There are two ways in which tax authorities sell properties: either by public auction or public tender, with sealed/closed bids.

WHY DON’T OWNERS PAY THE TAXES DUE IN CANADA?

There are many reasons why properties are sold for non-payment of taxes. Some of the most common ones are financial difficulties, 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…

Most tax deed sales are by competitive bid. Many Provinces only have one sale per year, Ontario has sales every month. Sheriffs may also conduct sales. In general, Canada tax sales have fewer properties than US tax sales because the Provinces can be fairly lenient on property owners. Each province handles sales differently. Tax sales are often conducted in the largest cities. You can learn more by taking Real estate Millionaire Strategies Apprenticeship (REMSA)

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeships which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. To find out more, please go to www.WorldWealthBuilders.com

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case.

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Security and  Pet Damage Deposit  British Columbia are required by real estate investor/ landlord can require from a tenant to pay a security or pet damage deposit or both, the security and pet damage deposit combined cannot exceed more than 1 month rent. The deposit shall be paid in 30 days of entering in to rental agreement or one month notice to end tenancy.

Landlord or real estate investor can decide whether or not they would allow the pets in their house or building where the pets are allowed the landlord has the right to restrict the size, kind or mummer or pets. The landlord also can establish pet related rules and tenant must abide those rules.

A real estate investor/ landlord who permits a new tenant to have a pet can charge a onetime pet damage deposit at the time of moving. The deposit cannot exceed more than 1 month rent no matter how many pets there are.

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A landlord/ real estate investor who permits an existing tenant to have a pet can require tenants to pay a pet damage deposit which shall not be greater than half a month rent. Before receiving the pet damage deposit the landlord must inspect the rental unit with the tenant, complete condition inspection report and provide a copy to the tenant within 7 days. The deposit can only be used to claim for the damages done by the pet.

Pet damage deposit cannot be charged for animal subject to the guide animal act or pets that were at the property as of January 1st 2004

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeship which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. You can attend Real Estate Millionaire Apprenticeship online or in person. To find out more, please go to www.WorldWealthBuilders.com/live.html

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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Are you looking to buy a house but feel you may not qualify for a mortgage through a conventional method; well this article may be just what you need to buy your home or investment property.

What is Owner Financing in Canada a.k.a (vendor take back)? Owner Financing in Canada  is when the seller agrees to finance the deal as if he is the bank, it is a win- win situation both for the seller and the buyer. There are many benefits for both parties, if you are the buyer, you do not need to worry abut qualifying for a mortgage, you do not have to worry about a credit check (especially if you have credit issues), you can have a long term mortgage, more flexibilities with closing dates and more.

Owner Financing in Canada

You can negotiate what percentage of the value the seller is willing to finance, it could be 30-70% in which case you will still need to obtain and qualify for a mortgage for the balance of the value of the purchase price, but on the other hand the seller could also be willing to finance 100% of the value, in which case you make your monthly payments directly to the seller.Owner Financing in Canada works well when banks and lenders have strict lending policies.

What’s in it for the seller you may ask? He can sell his property much faster, he does not need to wait for the buyer to get approved for financing; he can get the full asking price without discounting the price, he can set the closing date according to his future plans, he will also have more time to pay less tax.

If for any reason the home buyer defaults, the seller’s collateral and security is the house, which means if the buyers fails to make his monthly payments on time to the seller, the seller, like the bank, has the authority to take over the house, and the buyer will lose all the money he put into the property.

Owner Financing in Canada is a win-win situation, the seller is happy that he sold his house fast and the buyer is happy that he did not have to go through all the hassles of conventional financing. The best deals are when both parties come out winners.

World Wealth Builders offers many unique, practical, out of the box real estate investor apprenticeship which offers the student hands on, in the trenches style instruction to facilitate both a different mindset as well as a successful and lucrative real estate investment business. You can attend Real Estate Millionaire Apprenticeship online or in person. To find out more, please go to www.WorldWealthBuilders.com/live.html

The above information is provided as a guideline and is not intended to give a professional legal advice. Please consult a real estate lawyer for their opinion on your particular case

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