All Forum Posts by: Veronica H.

Thanks so much for the response @ Roy Cleeves!  I was wondering if my ideas made any sense at all because there’s practically nothing out there on buying probate properties. I will definitely give Legalshield a try.  Thanks again. 

Hi everyone,

Sorry for the specific questions. I know my next step will be to contact a lawyer but I’m hoping to get some info on lived experiences first.

Has anyone bought a property while it was still waiting for probate in Ontario?  Is there a way to help executors by completing and paying for the reno of an estate before probate and then sharing the amount the property has increased by when it is sold?

Thanks for your help!

Veronica 

@Erin Spradlin

I hear you from all the way up in Canada Erin. I have stopped reading Airbnb related articles this week because they all seem to just be bashing Airbnb owners and hoping that we lose our properties and learn our lesson.

Personally we were fully booked through the summer, months ago, and have had two cancellations so far. We could cancel the remaining reservations and market to long term tenants, but we are not there yet and we do not have to financially. 

Interestingly we’ve had a lot of people asking to book our place (it’s in a vacation town) since covid started. We’ve had to turn them down because our provincial government has banned short-term rentals related to tourism and we can face hefty fines if caught. I’m sure lots of people are doing it, but I’m not so bold.

Anyways, I’m also holding tight and am confident that the short term rental model will persist past the pandemic. Why? Because there are lots of people who prefer Airbnb’s over hotels and all of the reasons @Eric Teran listed. 

Great ideas on here to manage in the meantime otherwise though. Thanks especially to @Michael Vialpando. 

Hi Luc,

Thanks so much for your feedback. I have to say,  was quite surprised to read your response because I’ve listened and read about you in social media!  I’ve spent months learning about different strategies and real estate in general by following other investors like you. Yes, I have to figure out how to find wholesale deals and finance them. I’m starting to join forums and real estate groups..hopefully I’ll learn more there and gain more traction. Thanks again!

Hi Hai,

Thanks for the response.   Yes, my kids are definitely a strong motivating factor for me.
I’ve been hearing/reading about the changes to lending here and there. We’ve been in contact with our mortgage person regularly recently and she’s made recommendations which we are acting on now. We’ve also started thinking about who amongst our friends and family might be able to join us if we need more financially.   Do you have any suggestions?

Hi everyone,

I’m new here and wanted to introduce myself. We have a home and a vacation rental property in Ontario.

I have some cash to invest and am currently trying to create room to carry more mortgage.

My goal is to make cash quickly so I can spend more time with my kids.

My current plan is to find a flip or two and then BRRR... and eventually repeat. I would like to start ASAP and am interested in Niagara region and west end of the Toronto.

I would love to hear your thoughts on my plans to reach my goal, as well as any connections you recommend to help me move forward.  

Thanks! Looking forward to connecting with more of you soon.

Veronica