Currently Browsing: Buying

5 Ways to Avoid Buying The Wrong House

5 Ways to Avoid Buying The Wrong House
1.  Research your seller and the neighbourhood Make sure you are close to public transit. What schools are in the area and is there a waiting list to get in? Check out the police websites to study crime statistics in neighbourhoods. Walk any neighbourhood you are interested in and talk to people. By speaking to people, you can not only get a sense of the friendliness of the community, but also as to whether there are any surprises that no one is going to advertise, such as a former grow house, or the neighbour from hell. See if there are any basement apartments in the area if that is...
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10 Practical Tips For First Time Real Estate Investors

10 Practical Tips For First Time Real Estate Investors
1.    Plan a meeting with a mortgage broker or your bank to determine how much money you can afford to borrow realistically for your investment. 2.    Look for properties that generate a positive cash flow. What this means is that the rent you receive from tenants should be enough to pay your mortgage payment, property taxes, utilities and insurance bills. Budget an additional ten percent on your overall payments to pay for minor repairs that will invariably arise. Currently this is very difficult to find in the Toronto area. Don’t be afraid to expand your search to smaller communities,...
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What Is Rent To Own?

What Is Rent To Own?
What is Rent to Own? Rent to own is a simple arrangement where a tenant is able to rent a home with the option to buy. It gives the tenant-buyer the option to purchase the home they are living in at a pre-determined price within a set timeframe. Rent to own is also known as “lease to own”, having a “lease option”, a “lease purchase”, or “renting to buy”. By working with Ownership Solutions, we can help you with this type of alternative financing on a home of your choice from MLS.ca even if you have trouble qualifying for the mortgage needed to purchase a home. Rent to Own...
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Buy Ugly Betty And Save Your Money

Buy Ugly Betty And Save Your Money
Since the Toronto real estate market is currently strongly in favor of sellers due to low mortgage rates, a lack of good saleable properties and a very strong pent up demand, bidding wars have become a common occurrence. We are experiencing a strong sellers market in most pockets of the GTA and especially if you are in the price range of a first time buyer (between $350,000 $650,000), which means that if you are a buyer in this market, you and your realtor must be very resourceful and savvy in the way that you approach your purchase. Which brings me to my topic. When I say buy Ugly Betty, I am...
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What Is YOUR Tenant Profile?

Everyone has heard at least one horror story of “the tenant from hell,” so much, in fact, that dealing with renters is the biggest fear potential investors face, but that threat can be easily mitigated. Owning an investment property is tantamount to owning a small business. To succeed in business, you have to ensure that you have a good client base that respects your business and pays bills on time. The same holds true for succeeding in real estate investing, you have to ensure that you have a tenant profile that respects the property and pays its rent on time. For most novice investors,...
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