cottage country / Cobourg area, Ontario · Member since 2009 · 201 posts · 5 votes
not much creative investing here compared to USA and was wondering if that is because of laws or just a lack of creativity.. lol.. I have noticed that in a down market some people are willing to be more creative but it is still not common. also due to higher prices, very traditional market. any thoughts on this? I rarely see owner financing and the most profitable rehab deals seem to be forced appreciation imo.
I understand what you mean. I am a newbie to real estate investing. Living in Canada all my life, I've been brainwashed into thinking that the only way to buy a home is to go to the bank, get a loan (hopefully) and purchase a home that you will pay on for years to come. I have been going through many threads here at BP and am absolutely amazed at some of the things our American friends are doing. I don't feel like spending a couple hundred dollars an hour to talk with a local RE lawyer, and I have searched high and low for some creative ways to profit in real estate here in my province of New Brunswick. I would love to hear from other Canadians as to what is working and what's not.
You need to get some education and training in order to do that. Something in your province or travel out of province for training. But definitely Canadian and there are lots of Canadian REI courses out there. But most importantly you have to commit to doing them because training is only one part of it. Doing is the most important.
Every Real Estate Investor in Canada should start with the weekend ACRE Program offered by Real Estate Investment Network (REIN).
I've taken alot of the other $4000 programs and ACRE for $400 puts them all to shame.
Once you have that as the foundation, Don Campbell does recommend Ron Legrand's Quick Flip material. They have canadianized his stuff and a number of investors have been successful with it.