All Forum Posts by: Alina K.

Hi guys,

Quick question: Is anyone renting out a SFH/townhouse around the area of Bradford/Innisfil/Barrie Ontario? Do you know about the renters market there?

Thanks

Hi Everyone,

We're just starting out in wholesales...We found some properties that we'd like to wholesale to flippers/rehabbers/etc, but we need some more details before we start.... Can anyone explain please exactly the process and expenses involved?

1) Do we pay a lawyer around 1000$ to put a house under contract (with all the conditions, etc)?

2) How do we know that the buyer will want the deal? 

3) If the buyer declines, did we just spend 1000$ for nothing?

4) They say you need to know lots of investors to offer them wholesale. But what if none of them want the house? 

Any help would be greatly appreciated!

@ Roy N. - that makes sense. Now we know what we can afford....

We can start with a duplex. Although it's less cash flow maybe it's better off to start.....

We also thought that doing a few wholesale deals is a good way to generate some cash, but that's  a whole other forum with a whole other question because we have no idea where to find buyers yet!!! 

But we're getting there, one step at a time.....If anyone has any info please don't be shy to share!

@ Roy N. thanks for clearing it all up!

@Jesse Schultz - We can't be living in the property because it's in London.....But we can definitely look at something smaller like a duplex...maybe do a partnership if it makes sense for both parties....that would slice the downpayment by half....we just can't wait to get started:-)

We're in Vaughan. Thanks for clearing it up for us, we were so confused but now we understand the essence of hard money lending. We just came out of rich dad training last week and feel like everything we learned has jumbled up together....

It's really nice to see you're expecting, and that you're motivated to invest with your partner....we're pretty much in the same situation, expecting in November:) 

We'd be happy to hear about your duplex investment, its potential and so on. Cheers!

Hi Everyone,

We're in Ontario, Canada and we are looking to invest in our first buy rent and hold project, which is a 6 unit multiplex. The problem, tho, is we have no downpayment!! :-(  Some mortgage agents told us that first time buyers can put as little as 5% but not on rental properties :-( Are there any hard money lenders who'd lend money for a downpayment (80,000$) and if so, how fast would we have to pay it off???? Is it true that using a hard money lender only good for a quick deal such as buy-fix-flip? 

Your help will be greatly appreciated! 

P.S - we read similar discussions on here and we're so happy to see people encouraging each other not to give up and keep going! We'd love to do the same for everyone on here!