Canada - Finding a good account and lawyer
Hi everyone,
Myself and my girlfriend are starting our REI adventures this year, we've saved some money, and preliminary discussions with the bank manager sound very promising for mortgage approval. Prior to starting the mortgage approval process we want to get some insight into how to best structure our future empire. Canada offers so nice first time home owner incentives (GST waived, interest free loan on 50% of down-payment up to $37500) and we want to individually avail of these in turn.
This year we plan to first purchase a live-in flip until the seasoning period allows us to refinance or sell without penalty. I assume that we would have to have the mortgage under only 1 of our names, but the deed could be under both names in order to only use up 1 persons incentives?
Looking for advice on the issue above, and also looking for advice on finding a good accountant and lawyer; further explanation on what roles they specifically serve to a investor; and what questions to ask to determine their suitability.
Best Regards,
Tristan + Karen
Most Popular Reply
@Account Closed
A financial adviser (who's practice is broader than mutual funds and the stock market) would be a good resource in assisting you to draw a road-map of your financial objectives. Alternatively, an accountant whose focus is real estate and wealth management could fill that role.
If you make a bullet-form list of what you would like to accomplish now, in the short (1-4 years), mid (5 - 10 years) and long term, along with your current earning power and what you can realistically expect it to be in the near to mid-term.
With that information an accountant/financial advisor can help you establish an initial roadmap and plan.