All Forum Posts by: Aditya Bhate

I request the CPA's, Attorney's and Investors on Bigger Pockets to kindly share their sincere opinion and expertise based on what they think. Really appreciate your honest experiences!

#CPA #Attorney #U.S #Canada #RealEstate #Investors

1 Vote

One of my friend who is a dual citizen of U.S & Canada recently asked me this interesting question. He is currently in Ontario, Canada.

But since he has dual citizenship, he was confused should he move to U.S for settlement considering the following points:

1) In general, houses are more expensive in Canada compared to U.S comparing 'similar type' cities.

2) Taxes in Canada compared to U.S (*Again varies from state to state but in general)

3) Overall number of deals (residential/commercial) are more in U.S compared to Canada.

4) For someone looking to settle permanently in one particular country, we need to compare other factors too such as Cost of living, Healthcare (Facilities and Cost), Insurance, Crime rate etc.

5) Again weather is an important factor because many may not like the harsh Canadian winters. Also, Real Estate pretty much slows down in Canada in the cold compared to U.S?

6) Investing U.S has some added perks such as 1031 tax exchange which makes a big difference while scaling fast.

Obviously, knowledge of local market plays an important role while investing, but again if we just compare both countries for someone just starting out in Real Estate and long term view of things in general.

Please do give your opinions on each and every point mentioned above!

Thanks a lot !

1 Vote

Quote from @Ran Iarovich:

You can make it work but you will be losing out on the following:

- someone who can look through the weasel clauses and encumbrances in the contract

- eagle eye view on the market and upcoming deals

- a negotiator on your behalf

- transaction coordinator

- and more

Also, the buyer doesn't pay the agent's commission so there is minimal risk for them in using a prominent agent.

No but then someone may find a discounted deal from a wholesaler/bird dogger which would not be available on MLS for same price.

0 Votes

@Eliott EliasGotcha! Thanks :)

0 Votes

Toronto, Ontario

Quote from @Randy Rodenhouse:

If you put 20% down on a property typically with a conventional loan you won't have to pay mortgage insurance (PMI). In general, a larger down payment will get you a lower interest rate because lenders see a lower level of risk when you have more stake in the property.

@Randy Rodenhouse

So that means larger the downpayment, lesser the interest rate and mortgage related expenses and more the cash flow would be!

0 Votes

Is this true for every case that:

As Down payment increases, Interest rate increases, Mortgage insurance decreases.

OR

Lets say Down Payment is 5%, then interest rates & Mortgage insurance will be higher as compared to 20% down.

0 Votes

@Theresa Harris

Gotcha! Thanks :)

0 Votes

Toronto, Ontario

Quote from @Randy Rodenhouse:

When the property is listed on the MLS is typically added to zillow, realtor.com etc. So there should be no price difference. The benefit of listing on the MLS is that you have more eyeballs looking since this is the place where all the agents go to find their buyers properties.

So as an investor to get a property for a discount, MLS doesn't offer any advantage unless its some short sale/foreclosure.

0 Votes

Quote from @Bob Stevens:

Quote from @Aditya Bhate:

Wanted to know :

If a good deal is found via any of the following:

Wholesaling Vs MLS Vs Birddog Vs Seller Financing

The realtor or a broker's role comes only when buying house listed on MLS.

Wanted to know can someone directly purchase a good deal from a wholesaler or found visa bird dogging or passed on via seller financing.

That way we could eliminate realtor fees and would be a win-win for the buyer and seller.

(This question was asked to me by my friend who is getting a great deal via the latter methods)

Of course not. I have done 100s and 100s and 100s never using a broker. All off market, thats were the deals are ,

Thanks @Bob Stevens.

0 Votes

All Forum Posts by: Aditya Bhate

Aditya Bhate has started 6 posts and replied 19 times.

Post: Do you have any recent Real Estate Success Stories?

Post: U.S vs Canada (In general)

Post: U.S vs Canada (In general)

Post: Is it mandatory to buy a house via a licensed broker?

Post: Who pays for Realtor fees?

Post: Down payment <=> Interest rates <=> Mortgage Insurance

Post: Down payment <=> Interest rates <=> Mortgage Insurance

Post: Who pays for Realtor fees?

Post: Does MLS give an unfair advantage??

Post: Is it mandatory to buy a house via a licensed broker?