All Forum Posts by: Anson Young

Yeah, Canada does not enjoy the public records freedom that we do here in the States (well, most states...).  When sending mail, you should be able to title it as "homeowner" and be just fine, not sure how the Royal Canadian Post handles it though. 

I DO know that EDDM (every door direct mail) exists in some form in Canada, and those are NEVER addressed to the homeowner by name, just "resident" or "homeowner".

"The vacant property is also sub-standard, which if I read correctly, prohibits the owner from any sort of tax deductions on the property, ie they cant depreciate, cant write off interest from the loan"

Not sure where you got this information, you can depreciate property AND write off mortgage interest regardless of condition.  There are no factors that the IRS has or gives you that would say property condition is a variable.

Why do people hold on to these properties?  I have no idea.  I stopped asking questions a LONG time ago, and just focus on how I can help people with their problems to create a win/win scenario.  Good luck, and let us know how it goes.  You should absolutely be contacting the owner, you might be their saving grace for the year.

PML would depend on if you have a private money lender that is willing to finance rentals for you.  Usually thats the biggest hurdle when it comes to that type of financing.  If you use PML then refinance later, yes, you would be paying two "lender/origination fees" typically.  On property 2-3, dont worry about the 10 property limit quite yet, its a bit early.

As Wayne said, tax valuation or assessment has nothing to do with value that someone would pay.  Its just the way the county assesses how much property tax you should pay!

Those should both work out better than NH, for sure!

Well, thats a very personal decision.. it depends on your situation, how adverse you are to risk, etc...  if deals arent working in your area, what do you do?  You either go out of your area, or you dont invest.  I think out of state investing can be just fine for your first deal, its much harder of course, and much more stressful.  I'd recommend David Greene's book "long distance real estate investing" this is exactly what you need to mitigate the risks and headache of out of state investing.

Welcome!  I think you are right, unless something is done, the unemployment bump goes away in 45 days, and there will be quite a few defaults on mortgages and leases.  

If NH does not work, where would you invest that makes more sense?  Have anywhere in mind?

Honestly, I'd start with some basic searching right here in this forum on wholesaling.  After 15 years, BP probably has every single answer you could every want in the forums.  From marketing, to finding buyers, to contracts, finding sellers, networking, analyzing deals, etc etc etc....

its all here!

Sounds like you have planned ahead to mitigate any risks that might come up.  Cant speak to whether you should buy now or not, though it seems like there isnt too much of a down turn in metro areas with low inventory...  

You are right about finding live in tenants right now, might be a little more difficult than normal, with high unemployment, etc.  

30 typically, 40 if we might just need one.

most we have ordered was 9 40 yards, for a hoarder house