All Forum Posts by: Leandro Zhao

Hi BP,

One of my acquaintance who does a lot of wholesaling told me to go knocking on peoples door asking if they would like to sell their property.

My question is how can I write an official offer? Do I need to register my offer here in Ontario, Canada? If yes, where do I go? Is there more source of information of step by step on how to do this in the Canadian market?

Thank you

@Luc Boiron are you generating a lot of leads by doing driving for dollars in Toronto?

"Sucking at something is the first step to be good at something" - Jake the dog

If you buy a property you can refi the very next week.

There is 2 sides of refi, one that you are taking the cash out and you can do whatever you want even buy another property, and another is the you are thinning out your cashflow and your mortgage might be too high and the rent might not be able to cover it.

When you are buying your property, make sure to find one that you can still cashflow even after your refi (very hard to find this kind of deal in southern ontario).

Hi Chris,

Do you have any recommendation on how to find houses that are off-market? I've been sending my email to those website of "we buy houses" but no leads at all.

Thank You for your response. I'll talk to my realtor to see if we can do this. 

I saw this multi family in my city for 450k where the market is supper hot (probably the ARV is 450k). Just by looking at the building itself, it looks like it will need a lot of work. If outside is bad inside must be worst.

My realtor said the seller will only let you do a viewing if you have an accepted conditional offer. That's probably why this house is in the market for almost a year.

 My plan is to send a really low offer but my realtor does not think this is even worth it the time. He does not want to get involve into this kind of deal.

Should I shy away? Anybody have done some kind of similar with accepted conditional offer for viewing?

I'm not 100% how Canadian corporation works since all the material that I study is based in US. Do you suggest to buy using LLC in canada? Is it more expensive (Tax)?

I listed to many BP podcast and over and over again, I hear them saying that they buy property under a different and NEW LLC and they have another service LLC to rent the unit to "protect" themselves.

All the local investor that I talked to, buy properties under their own name.

My question is, when do you buy properties using a corporation in Canada? Does it work the same as USA?