All Forum Posts by: Mark Pandelidis

Quick question on capital gains tax. Here in Canada I've read that you pay capital gains tax on half of the gain made from a real estate sale. So in my mind an example would translate to: if I made $50k profit in capital gains, I would pay taxes on $25K and that $25K would be considered income.

Now my question is, is that true?
Is it taxed in the same lump sum as my job income or taxed separately with it's own tax percentage?

Also, I know that if I re-invest the capital gains right away, I don't get taxed on it that year, if I was to invest half of the gains, do I get taxed on the half that's still left over, or is that half not taxable?

Thanks everyone for the advice, I guess I'll have to make some phone calls tonight.

I attended a rich dad poor dad seminar as well as another free seminar that was given in my area. Both talked quite a bit about rent to own, and it seem as though here in Canada the rent to own programs aren't very well known. All the benefits they explained outweigh the headaches of a regular land lord, and it would seem to have more advantages than wholesaling or rehabbing (less risk involved).

It would also appear that getting a house at 5% or 10% down is still possible here in Ontario, even though the government passed a new law that states investment properties must be bought with a 20% down payment.

So what's my starting point? What do I have to do to get pre-approved for a mortgage before I start looking at the houses

I'm 23 years old and I'm just starting out in my career as a real estate investor. I've taken a few classes, read a few books and talked to a few people about different types of investment strategies and I am now ready to start my journey. However I don't really know where to start. I only have a few thousand in the bank and I don't own my own home yet so I don't have a line of credit or any equity. My credit is great, and I've been told by my local bank that I would be approved for more than $20k if I applied for a loan. The strategy I am mostly interested in implementing is lease options (rent to own) and I have my father as a partner, but I'd like to get some ideas on how to start getting ready to buy my first investment property.

Anything will help