All Forum Posts by: Dwayne Poster
Dwayne Poster has started 1 posts and replied 453 times.
Post: What is the process for buying a foreclosure?

- Investor
- Van Isle
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Quote from @Erika Geoffrey:
Hi all,
Does anyone purchase foreclosures? What is the process? I'm from Canada where we don't really have foreclosures so I'm curious what the process is.
Do investors typically stay away from these?
You can find them both on and off market.
On market is a wash with Realtors fees and competition. Once an acceptable offer comes in, it goes before the court, who will accept all offers, and award to the best.
Off market is the same as a regular sale up until the lender gets a court order to control, then their policies kick in which is typically a market listing. Search the court filings in your target area to find filings, pull those records to identify the properties and owners. Contact and deal with the owner.
Post: Location specific for Canada gone?

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- Van Isle
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search will return those that include the province in the post. Posters can help themselves being discovered.
Post: Travel Nurse Rentals in Calgary Canada

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- Van Isle
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if not nurses then potentially persons who want to be near those being hospitalized. Vicinity or bus to the University/Children's hospital. Maybe up 16 and split between SAIT and the hospitals.
Post: Wholesaling MLS properties

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- Van Isle
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Quote from @Dan Golovin:
Quote from @Larry Turowski:
Don’t do this. You’re already giving yourself a bad reputation. Stop now. Find your own deals.
If you are attempting to wholesale a product on the retail market, you misunderstand the concept. Someone might pay you to seek such properties, but profit over the embedded commission is a fantasy.
Post: Buying without an agent

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- Van Isle
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Quote from @Carlos Ptriawan:
Quote from @Justin Fox:
Realtors and the MLS are the gatekeepers to a sale generally. I think over time you'll find that realtors generally serve the interest of the commission, neither the buyer or the seller. They'll convince you it's a buyer's or seller's market and to pay asking or drop asking, whichever gets it to closing quickest. People would be much better off getting that % back in closing costs and still letting the title company to a majority of the work, lol.
This. In the future, we may not need real estate agent at all, although we may still need transaction coordinator. Do you need buyer/seller agent when purchasing a car ?
IF you buyer know what you're doing, most of the times, agent is not needed. 50% of what you need is massive detailed inspection report and 50% is appraisal. If any GC could come to verify your projects, that could be all what you need.
You don't even need appraisal sometimes as everything is already there online.
Also, only 24% of real estate agents, meets my expectation. Key thin is all these possible when you're savvy enough.
I tend to agree with these sentiments. Realtors are potential tools to get what you are after. You need to manage your affairs, and to apply the appropriate tools. Realtors too often hold themselves out as being the panacea, which lures people into believing they are an answer, rather than a method.
Post: pros/cons of doing basic rehab without a permit

- Investor
- Van Isle
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Pointless getting permits if you don't need them. Typically, repair work with 'like' materials does not require a permit. If the county website isn't clear, call them.
Post: Has anyone bought court ordered sale in Canada?

- Investor
- Van Isle
- Posts 455
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and you may have competitive bids where its sent back to all bidders for a closed bid response.
Post: water heater vent hood installation question

- Investor
- Van Isle
- Posts 455
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Quote from @Jerry L.:
Quote from @Dwayne Poster:
looks like they are referring to the pipe joint connections that require 3 screws. In a lot of these cases, the components of the unit itself, are part of the certification, mandated by bylaws, and the mention is for field installation items. In your case, the piping, not the manufacturers supplied (certified) vent hood.
yes, and every section of piping that is connected to the next.
Post: Do I need an agent to represent me?

- Investor
- Van Isle
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When asked 'do I need a Realtor', I will typically say yes, because you dont know. If you told me you dont need a Realtor and this is why, I might say, good for you.
Post: Rezoning residential to commercial question

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- Van Isle
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change of use is a common mortgage clause, typically giving the lender full discretion. Checking with your lender will provide the correct answer.