All Forum Posts by: Anthony Panepinto

@Chris Baxter and @Huong Luu Good points. Thanks!

@Samantha Wilson DM sent!

Hey all!

Let's make this an open discussion about the BEST cities to invest in, in Ontario for each category of investing. 

For example, 

Kitchener, Waterloo: Student Rental properties. 

Hamilton: Fix & Flip properties. 

Toronto: Buy & Hold properties. 

etc... 

It would be also nice to include the general price range and or budget you'd need to be working with for each city. 

Hopefully a thread like this will be useful for new and seasoned investors to keep a pulse on different regions in Ontario and what the best PLAY is in each region at any given time.

Let's discuss and help some people! (and each other) 

Simple answer, no. 

You're simply getting a property under contract and then assigning or selling that contract to a cash buyer / real estate investor. 

@Huong Luu Thanks for this advice! I appreciate you. I have been studying a lot of online materials (which seem to mostly apply to the U.S. market). So trying my best to understand what works in Canada. From what I now know, there aren't "title" companies in Canada, but instead, notary's and real estate attorneys. 

Do you know if we can "assign contracts" in Canada? (or more specifically Ontario). If so, any recommendations on resources to find some contracts with the "assignable" clause that are usable within the Canadian market. 

Last thing, I was referring to the "double close" approach in my first post but I definitely do NOT want to trigger a double land transfer tax, so this is approach is best to be avoided, I guess the main tool we have in Canada for wholesaling is assigning contracts. Is this correct?

Your help is appreciated as I am new to this but I already LOVE the BP community, so helpful, would love to meet some BP members in person sometime too (once COVID settles down a bit!)

How is the wholesaling game in Toronto / Ontario, do assignment of contracts and double closes work? Are there any title companies that do "dry" double closes here? "Dry" meaning: using the money from the second close to fund the first. For example, I get a property for $400,000 under contract and then I re-sell the property to another real estate investor for $450,000, are their title companies here in Toronto, Ontario that would be willing to use the $450,000 from the second close to fund $400,000 for the first close?

Also any general insights on the over-all wholesaling process here in Toronto or Ontario would be greatly appreciated because I'm quasi new to this market.

Thanks!