All Forum Posts by: Samuel Sedore

The only success I have found with wholesaling is to find owners with significant equity who are absent or to lazy to do a little bit of work and sell with a realtor. They can't be anywhere near foreclosure the bank won't allow such a cheap sale. 

There is no "textbook" way to achieve this. I would (and do) look on Kijiji and similar sites, but kijiji has a huge market share. Look for people asking to much for their property or selling a property in less than ideal shape, they need to have significant equity for a VTB, specifically with low LTV.

@Doug Pretorius strategy would work also if you find people without much equity.

Yes Sole proprietorship, it seemed to me through reading his underlying concern was claiming property management as expense. By opening a sole proprietorship and writing your own management expenses you could write off the taxes, correct? while leaving it in your name it would be more difficult.

A solution I can think of may not fit you geographically would be to lease out your primary residence and apply to this loan as an owner occupied duplex.  Move into a unit, your debt service ratios should decrease by doing that.

 You definitely have some opportunity if you can solve the vendors problem. Phrase it in a way that benefits them. 

What about opening a management company strictly with a business license and not a corporation?

Similar to opening a lawn cutting company etc.

 It depends on your opinion of practical. Last time I checked the solar panel payback period was in between 20 and 25 years. If you have a large excess of capital and the 20-25 year payback makes sense then it may be a good idea. Although for the average investor it makes no sense to me that they would spend it on this the money could be better used elsewhere.

It would be cheaper to have your units meters separated and pass on 100% of the cost.

I did a 93% LTV vendor take back I thought that was pretty high LTV ratio, I also met and investor in London who offered out about 95%-97% LTV but never have I seen 100%. I don't think it would make sense for the vendor unless it was in a very slow market and they had no immediate need for the money.

It's great how although we as investors are very numbers oriented (at least I know I'am). But at the end of the day we all come up with completely different opinions using the exact same numbers and data (for the most part).

http://www.occ.ca/advocacy/ontario-economic-update...

http://www.conferenceboard.ca/press/newsrelease/15...

The numbers here make me confident in my market for the long haul.

are you referring to the TARION home warranty?