All Forum Posts by: Gary McGowan

@Nick Ovington Our meetups are once a month at the Newmarket Holiday Inn.  You can check them out here. 

http://gmrealty.ca/meetup we have a lot fun at them and invite guest speakers each month to talk about a variety of different topics.  

Hi @Hector Li Chang welcome to BP. I own properties in Barrie and elsewhere, You're in a great area for RE Investing. I would start by connecting with people that have had great success and some failures in RE. Talk to them about how they are buying and managing their properties. Attend some local RE Clubs. My good friend runs one up in Midland. I also run a monthly meetup in Newmarket. We have a number of people that travel down from the Barrie area to attend. Always new topics and never any selling! All education. PM me for info. 

Feel free to reach out, I enjoy helping others with their RE journey. 

Welcome to BP. Are you investing in Cornwall ? 

Talk with a mortgage broker, They will be able to see where you can improve

Thanks for the mention @Roy N. Yes, @Laura Moses I run a monthly Investors Meetup. We only educate investors, new topics every month, no selling. We may from time to time highlight some Properties that are for sale. There are a handful of BP members that come. I will PM you the meetup details, Our next one Nov 19th, Talking about how to have the correct insurance and how to use Other People's Money (Joint Ventures) to buy real estate. 

Looking forward to connecting with you.

I'm here too. I typically buy to renovate refi and hold mutli family buildings are the GTA but not in Toronto :) I've done my share of Rent To Owns, Flips, wholesaling (not worth the work) and raised capital for small to large size projects. 

Always willing to help others succeed and to share my mistakes... 

JC, I also own in Hamilton and other areas around Toronto.  Live in Newmarket On. I may be able to offer some insight and perhaps interested in a partnership.  I've have a great contractor in Hamilton. He's actually going to be doing another Reno for me in the coming weeks. 

Let's set up a call next week.  I'm in Florida this week with my family! 

I can also help you move the property.  

Gary 

This info based on Ontario Canada rules. 

Short answer is yes.  This called an Agreement For Sale.  Highly popular in the seventies around the Toronto area. Due to lenders not lending, high rate mortgages and properties no selling. I only know of two lawyers in the area that will even have the conversation about them now.  Most lawyers have never heard of them and when explained won't touch them. 

The concept is ownership of the home transfers but title does not until sometime down down in the future. Usually when the mortgage is up for renewal. The original owner remains on title and keeps the mortgage in his name.  Not many sellers are keen to do that especially in a hot sellers market. 

On the flip side about 1/6 of mortgages are assumable providing the new buyer qualifies for it. 

Welcome to the BP community! I'm from Newmarket and invest in the GTA. Let me know if you have any questions. I also hold a monthly meetup and bring in guest speakers to teach us about real estate investing. You can pm me for the details...

Hey @Sonja Razmovski Welcome to BP. Lots of great info and people here. I'm just up in Newmarket and have been investing in the GTA since 2008. Let me know if you have any questions!