All Forum Posts by: Matt Geerts

Thanks @Claude Boiron ,

I'd be happy to take a phone call, too, if it is something you'd rather not blast out. I think you have my number, else just send me an email or BP message and I can get back to you.

I don't know. I'm totally in the dark regarding legally raising capital.

The vibe I'm getting is to just stick with accredited investors or family, and that's that.

Not a lot of action on this thread. Maybe @Shawn Allen can help? Or @Mike McCracken? Or @Luc Boiron or @Claude Boiron???

Roy, you said that the 150k minimum was "relaxed" but that's not what I'm reading; I read that the 150k *exemption* was removed. That is, that 150k+ is NO LONGER allowed from non-accredited investors. Yes, there is the new crowdsourced investing which is more like 10k maximum from each investor but requires a HUGE pool of investors. I'm still not sure anybody is doing this in Canada right now, and not sure I could propose the kind of business case that would suite that kind of investor anyway.

Is anybody in the expensive Toronto, Waterloo, Cambridge, Oakville or other GTA markets raising capital?

I am on the threshold of needing to raise large quantities of money (large is relative, so I'm talking in the 500k-1.5M). My plan is to offer investments in three ways:

1) first mortgage of the full amount

2) second mortgage to cover the gap between owner or bank financing and the remainder of my needs

3) A group of investors all contributing to a single first mortgage

Numbers 1 and 2 are simple enough in terms of mechanics, and I don't want to get into the mechanics of #3 here. What I'm wondering is, who is ALLOWED to invest with me in these ways? Who can I approach and offer a deal? I want to avoid lengthy and expensive legal processes - I just want to ask for a mortgage from friends, family, associates and perhaps strangers.

I just read that the 150k minimum investment exemption has been abolished. I don't even know if this applies to me or not.

So, can someone give me a breakdown of the rules? Of course, nobody cares about the rules when everyone makes money, but when there's a loss I don't want to be broke AND imprisoned. 

If you are not from Ontario, or know specifically about Ontario (the province, not the city in Cali), please don't offer your speculative input.

As my realtor put it - Everything is still going over asking, but now it is 2-3 bidders instead of 10-20 bidders.

Nickey, are you wholesaling, or are you representing a realtor? Do you have deeply discounted properties that need repair? I am buying.

In my opinion, if your deal is good there is no worry about finding the money. Begin to generate contacts in private money lending. Find friends and family who would be willing to lend to you at a staggering high interest rate if you could show them a home-run deal.

My first "real" investment was a no-conditions contract with 5 weeks to close knowing FULL WELL that I had absolutely no means of getting a bank loan and having no down payment money. The deal was crazy. I found 100% private mortgage and I've been using line of credit to rehab it. 

If you can't find the money - you didn't have a deal.

Tuesday July 18th 2017 at Tiger Jacks in London Ontario Canada!

How has your investment business or portfolio been performing in the first half of 2017? Come out to chat about your highs and lows and bounce ideas off the group!

As always total newbies are invited to join this meet-up. There is zero experience required and lots to learn from the group of diverse investors.

We usually meet on the "balcony" but if this weather continues we should probably head out to the patio to enjoy the beautiful evening!

See you there!

I do exist outside of the BP meet-up, too! I must admit, though, that I am pretty much booked 24 hours a day. I need to figure out how to not sleep.

Steven, come out to the London BP meetup on Tuesday. 

I have some fun new stuff to show off at this meeting. I look forward to the feedback!