Hi BP, I am wondering if there is any who is Wholesaleing in Canada successfully and can share there process. Best of my knowledge there are no title companies in Canada, so it has to be done through an attorney. The attorney also doesn't perform the same functions mentioned in previous wholesale outlines, such as the title search or escrow.
I'm also curious about any differences in the Toronto and Vancouver market for Wholesaleing.
I'd also like to use this thread to connect Canadian wholesalers, there doesn't seem to be many listed on the members section of BP.
Thanks everyone, I'm new to this and still in the research stage, would be great to bounce ideas off someone.
Hey @Kyle Leeyaw ,
I don't personally do any wholesaling but there is a group in Winnipeg where I live/work that mentions wholesaling on some of their social media posts.
Might be worth it to check out/reach out to "Go Get It Real Estate". They are very active on social media and appear easy to get a hold of.
He k out Barry Maguire in Edmonton. He’s a lawyer who does training in this. One of the best for sure
Awesome guys, thanks for the resources! If you know anyone else involved in real estate in Canada, please have them checkout this thread. Lets collaborate and share information.
If you search the forum history here on BP, this topic has been discussed several times - it's a fairly regular question. While you can carry-out wholesaling here in Canada, it is more challenging than south of the boarder due to a variety of factors: population, privacy legislation, lower delinquency rates, etc.
Process - put property under contract - assign to investor buyer - investor closes with seller through lawyer and you receive assignment fee.
Wholesaling is really easy but also really hard.
Lawyer do pull title, but usually will do it only shortly before closing. Helps a lot to work with a real estate agent, without one to pull comps and get you access to certain information it's really quite hard to value properties.
@Kyle Leeyaw I've wholesaled lease options. There isn't as much money per deal and there are some additional legal considerations. But I find it easier to locate deals and you don't have to worry about calculating repairs.