All Forum Posts by: Tanya Takacs

Hi Joe,

Thanks for your post as I have been looking into investment properties and would like to start building a portfolio. I fit exactly what you describe as someone who does not have that extra cash to put down for a property. I do have a question and if you can offer some suggestions as how to make this deal work it would be great. I am interested in a 4-plex and the seller is willing to do financing at a 4% interest but still wants the 20% down which I don't have. I have been looking for lenders (family / friend are out of the picture) but many of them won't do it for various reasons. It become frustration because it's not a huge sum of money and the numbers work. Also as a note, I am Canadian which many times does not seem to matter to lenders as much as other reasons ie: they want 1st lien on the property. Any words of wisdom? - :) Tanya

Hi Rebecca,

I would like to get some more info on this portfolio.

Thanks Shawn - I will definitely keep in touch!

Tanya

Hi Cal,

It's almost been a year since I posted this and it's been a great experience and blessing for me. Not only in business but it changed me as a person by forcing me to get out of my comfort zone, being persistence and importantly, developing relationships. Maybe one day I will write an ebook even thought I'm not keen on writing - but it would mainly be to encourage others to hang in and within time things will happen. 

Anyhow, to answer your question, I never got a house under contract from FSBO. I have looked but it just never happened. I have wholesaled several properties from the MLS or acquired off market properties or I would JV with other wholesalers. As for comps, I do multiple things: I will ask an agent to send me comps especially if the property is listed. I will also check the "Recently Sold" on Zillow; although we are not to trust Zillow's accuracy 100% but the numbers are usually not that far off. Even from an agent, I find I don't always get good comps because if they go too far or "across the track" (so to speak) it changes things. Another step I will do is to look at what the houses are currently listed at in the area which I feel it's good to know what's selling in the neighbourhood. Some areas I know quite well now so I sometimes have a good sense what to offer on a property. The funny thing is, I'm almost convinced I know Indianapolis more than my own city!

Hopes this answers your question - Tanya

I am working with another wholesaler on selling a property. The other wholesaler has the Purchase Agreement under contract and has agreed to split the profit 50/50 as I have the buyer for the property. Before I disclosed the buyer to the other wholesaler I would like to have an agreement between us. Does anyone have any suggestion a to what should be written on the agreement?

Thanks in advance. Tanya

Thanks again everyone for your amazing welcome.

Looking forward to hearing from you Ben, and thanks again for introducing me to BP!

Hi Stephen,

I have a Realtor that I work with and he provides the comps for me in the area. Also, in the US, you can get sales on Zillow, but I don't know if there are any websites for Canada. If I come across any I will definitely let you know.

Tanya

Hi Olivier - Thanks for your input. I have not really been looking in Montreal but I did see some properties that I could go check out and I will get back to you.

Tanya

Hi there. I was wondering if anyone had success Wholesaling with listed properties? I was able to get some properties under contract but realized I did not evaluate the numbers properly and the price was too high. I am Wholesaling in a different city (Indianapolis) from where I live (Montreal, QC) and I am mostly making my ARV base on comps and what I see from photos of the property. Any suggestions or tips?

Tanya

Thanks Vince for the welcome.