All Forum Posts by: Eric Delcol

One of several reasons for the 2008 crash was that people were getting their own appraisers to vet the property they wanted to purchase. How anyone thought that wasn't a conflict of interest is beyond me but here we are and we all now have to pay the penalty of lenders having the control when it comes to appraiser selection. It sucks. But you're better off focusing on make a dollar mode instead of save a dime mode when it comes to appraisals. I recently went through this myself (I was charge $675) If it's over $700 (which yours is) I'd still bring it up with your lender and see if they can lower it or comp you on something else. If they don't budge it's not worth the fight for the few hundred bucks.

"How do I know what a good cash offer is?" If the seller is insulted - that's a good offer.

The top states for landlords from a legal perspective are: Arizona Arkansas Colorado Florida Georgia Indiana Kentucky Mississippi Texas The laws of the land should be one of many factors to consider though. I'd much rather invest in Clark county NV than Louisville KC as an example.

@William Glover

Welcome,

"We are interested in flipping, buy and hold, and wholesaling. Possibly even get into some vacation properties."

It sounds like you need to do some research on what you want to focus on.  I'd suggest research each of those avenues, talk to people who are doing those things, and then pick one to start.  That will help you focus and achieve your goals faster.

Originally posted by @Thomas S.:

There will be many creative go-rounds that will result in avoiding the tax. Investors are generally not stupid and will be creative in bending rules.

 You're completely correct Greg.

This is another example of a futile attempt by the government trying to control the market.  

Whether someone's unit is vacant or occupied is their business.

@ Luka Milicevic I'm interested as well. Please send me a PM.

@ Armando Raygoza We have a great agent who deals with investors specifically. Send me a PM if you would like their contact.

Hey Roy,

I know there are.  I applaud anyone that can make the numbers work in the great white north.  For us, however, we've found the best deals in the US.

Buy and hold ... in the US. The returns in Canada, particularly the gta are paltry unless you factor appreciation as a big part of your calculations. I go by Kirosakis mantra - you make money when you buy - not praying on market appreciation. Once the music stops in this game of real estate musical chairs and interest rates kick back on I may look at ontario again.

@ Douglas Mack Are you looking for an area to invest in or live in or both? If you're looking to move - spend a month living in wherever you choose between July and August. There have been many people who move to FL from the north because they remember how great the weather was when they were on vacation in January. But after 1-2 years of 97% humidity in the summer they can't take it and usually move back.