All Forum Posts by: Samuel Sedore

I use several, but Shayle Rothman is a good mobile REI lawyer. Jeff would likely know some in London.

As far as using an out of town lawyer to sign docs, you can do that all through fax or docusign in most cases.

Most lawyers will give you a tough time about answering questions and working with cleaning up drafts, as it is their business and they deal with tons of tire kickers. Even though your intentions are good and you're serious they have no way of knowing your not just wasting their time.

 I didn't find a good relationship through some until using them for closing deals or giving them referrals on deals.

I would register a corporation, roll your profits back into the corporation for future investments and avoid the cross border taxes. Corporations are much different in Canada then the US so I would read into the differences to become familiar

VTB's May turn into your best friend in this situation

 I would say you're better of using an American bank, even though your a Canadian citizen it seems as though you have nothing physical tying you to the area and nothing they can really base your loans on. I really have not heard of any that lend out of country for any special rates unless you own property here and have a mortgage with them.

Orillia may be one of the only top 10 in your price range. But here is a list of the top 10 cities for growth in Ontario.

Also not to put a kink in your plans but the 5% rule may not apply to 4 unit buildings, double check the cmhc site about that but I believe you need 10% for over a triplex, but could be wrong.

http://www.reincanada.com/aboutus/media-news/press...

Start advertising for tenants and work down from their maximum price point. As far as I know it works in any market as long you find the right potential tenants first. The cheaper the price point generally the easier it is to find people.

Just ridiculous and based purely upon corporate gain in my opinion the liberals really have a way of secretively taking care of the the corporate agendas. What really got me about this is that we just sold about half of Hydro one to private shareholders, so the province really does not benefit in this way at all. Also I think the climate change argument is BS, we have Alberta oil companies using inefficient practices generating a lot more pollution.

Also on global scale as much as we can possibly pollute is really nothing, we have such an extensive amount of vegetation our carbon footprint as a country is easily a positive one in relation to our relatively low population. 

There was also a great point above, as landlords we can easily just pass this on to the tenants and make it their problem! Lose-Lose for everyone

I see this all fizzling out though as once the natural gas companies have enough lobbyist on the payroll, the liberals will likely change their tune

If I were you I would pick the most landlord friendly state, I believe Arkansas as you can use the police to evict tenants and they have basically no rights. Find a great team there and start completing your research on the best areas and neighbourhoods

 Good call on the Cambridge Brampton Mississauga and Toronto, Very Very different markets!

I know Brampton well but can not comment on their tax systems as I have not lived near that area for some time. Although in Cambridge our tax system is still very conservative, with all the new money and appreciation coming in, MPAC must keep their estimate conservative or risk many of the older residents living here for 20+ years on fixed income notaffording their homes taxes.

School friend works for MPAC and they are currently using a conservative  mathematical equation on most properties as apposed to real inspections. 

Brampton and Missisauga are very similar, Toronto is similar but still very different and Cambridge is a whole different ball park

A HELOC or blanket mortgage could be an option. Although I'am not a lending proffessional, if you would like a referral I have lender who is familiar with sub-prime and non traditional lending, he may be able to offer a solution.