New to the "Canadian Market"

3 Replies

Good day all, 

My wife and I recently moved to Toronto and would like to continue our investment goals.

As the building style, laws and what to look out for when buying property is different from what I'm use to, being South African, I've got a couple questions that I would like to put out there.

- I've found some house inspectors on the web, are there any that comes recommended for the GTA?

- Other than what is on the CMHC and CREA sites are there any suggestions of reading material that I should familiarize myself with?

- Are there any preferred mortgage brokers out there?

- What would be the average turnaround time from offer acceptance to closing day? ( I use the term average "loosely")

-Are there any one on this forum that use the "rent to own/buy" principle with some of your properties and do you find it to work well with the Canadian mind set?

Looking forward to connecting with like minded people.

All the best.

Hi Godfried,

The Canadian market does not have many RTO offers.

You can look at it two ways - there is no one doing rto because it's not profitable or no one is doing rto so I have no competition.

Most people don't know what rto is so you will have to educate potential tenants.

Typical closing (if financed) is 2-3 weeks.

I know the best mortgage broker in the GTA. They're tech savvy ( I've never needed to go to their office), easy to talk to, and have the best rates.

Send me a PM if you'd like their contact.