All Forum Posts by: Charles Hill

Hi Lakisha,

In my experience with Craigslist, I go to the "housing" window and "real estate for sale" tab. When you open that tab, look for "real estate for sale: by-owner | by-broker | both. Click on "by owner" and that will provide you with listings that will focus more on FSBO. You must exercise some diligence as realtor/brokers will also list here. So read the listing carefully to avoid contacting agent/brokers.

Hello BP Members,

Here in Vancouver, BC I have spoken with several people who are interested in investing in single family homes and duplexes in areas other than the Sunbelt. Memphis is one area. I am interested in Indianapolis because I have family there and a property management company contact. My question is threefold.

(1) Are there Canadian investors on the BP site that have personally invested in a US property, or have assisted other Canadians in that process? If you have, or know someone who has invested specifically in Indianapolis, Indiana that would be a bonus!

(2) If there are Canadians who have invested in US real estate, did they use RRSP (Registered Retirement Savings Plan) money? Did they transfer money into a self-directed RRSP?

(3) I would like to speak with a lawyer who has assisted Canadians investing in the US market, in terms of forms, taxes, and any other documents that will be required for cross-border investing.

Thank you for reading and replying to this request.

Welcome Roy,
I'm in Vancouver, BC. Glad to read another Canadian is on BP.

Welcome. I have read many of the posts to which you have responded. Your knowledge and wit is greatly appreciated.

Mr. Gulley,
Thank you for taking the time to provide me with an in depth assessment and recommendation of the lease purchase strategy I am using with this client. I must re-read this a few more times to digest! My Barrister & Solicitor (lawyer) will review the suggestions you have made and I feel confident we will move forward.

Okay, here’s the deal. I have been working with a tenant/buyer who has his eyes on a condo for him and his son. Father is in the midst of a divorce and needs to find a home for him and his teenaged son.

I have a seller I got through the For Rent By Owner on the internet. I called the owner, shared the story about our father/son situation and asked if he would consider selling the condo. I told him the dad, a lawyer, was adamant that he live in the same community where his son attends high school, and that he (dad) did not want to make a landlord rich with $1200/mo. rent. He will buy instead.

There was a moment of silence as the homeowner thought about the situation and said, "lets' talk about it". The home owner agreed to sell the 2 bedroom 1 bath condo for $252,500.00. After running comps on the condo's sold in his complex, his asking price was fair. He has a mortgage with PITI of $1000.00. Current tenant is paying $1300.00 per month. Current tenant will be leaving at end of April.

I will set the buy price for the tenant.buyer @ 4% above the FMV which will be $265,600 in 2 years, with a $10,000 option consideration. The rent will remain at $1,300.00 per month.

I know that the $10K is a non refundable fee that is credited to the purchase price or down payment. I am unclear as to how the $10K is credited to the T/B. What form do I complete that addresses this? Who gets copies of the form(s)? How is the $10K recorded so that at the end of 2 years, the money is credited to the T/B. Is the $10K held in escrow or in my bank account? Please tell me my bank account is the happy holder of this money. Is the money eventually. If the seller wants some of the option money how and when is that distributed?

I ask these questions so I can answer the seller and buyer about the option consideration from a position of integrity and professionalism. Walking me through this is greatly appreciated. I think there are some steps that may have been left out of this post, through my ignorance. Please fill in the gaps.

With respect,

Congratulations on feeling the fear and doing it anyway. You are an inspiration. Enjoy the good feelings of proving to yourself that you know what you're doing.

Welcome to BP Kaz. What is your area of interest in real estate?

My family lives in the Northwest Suburbs of Illinois. Where are you located in relation to the Northwest Suburbs of Chicago?

Welcome to BP Mark. I have a contact in Long Beach. If you send me a private message I will introduce you.

Hi Scott,
Thank you for sharing your strategy and the challenges you have been experiencing. There is a strong body of research from the metaphysical field that posits, what we think about expands. Your website and blogsite names "struggling investor" suggest you will continue to get that experience because that is what you're putting out to the "universe." Struggling Investor is negative. As an experiment, change the name from "struggling investor" to one that speaks to what you desire to "be", "do" and "have". Just create another name and use it for 30-60 days and see what results you get and don't change your marketing strategies!
This is not about you being intelligent, committed, motivated ,organized or any of that. It's about the "vibe" we put out, unconsciously at times, that keeps us from getting what we want. Tony Robbins and other motivational speakers have addressed this in speaking about congruency. Google "The Beginners Guide to Being Congruent." I pass this on as one who has been where you are and has been awaken to realize that our "thoughts are things." blessing to you and much success