All Forum Posts by: Samuel Sedore

I would be more concerned with the tax implications, Also be wary with private money and terms. You can find anyone to lend on anything if you look hard, it will just be a matter of their terms. In Ontario private money or hard money goes for around 8-12%.

I don't see an possible way to help that buyer legally, also someone filing bankruptcy will not qualify at the end of the term and they would never build up enough equity when they start 50,000 in the hole. Just my 2 cents. Althought I would do the "wave a magic and exercise with that buyer" and RTO then a nice home. If 3,000 is a reasonable down payment in your market, I know mine is more expensive but 1,800 sounds like a workable number

congratulations.......... and now it begins!

inland

@Jay Hinrichs Check out moutcha bay fishing resort, my friend is a guide there you gotta see the salmon and tuna this guy pulls up. Check it out next time you head for a fishing trip,

@Jay Hinrichs If you have any further interest in Canada let me know! I don't know your level of investing, but if you are interested in lending and or qualifying I can pay a pre-determined return and buy you out at the end of it. BC is gorgeous! I would agree.

 Take it from a Canadian Mike Holmes is BS aswell. He is not even a certified red seal carpenter lol, he whores his name and makes a killing. He made his name by going into homes and criticizing other carpenters and making them look terrible. Check out Jared Hope at LLR for a great canadian flipper. 

Appreciation still counts as ROI. I get about 20-30% per year easy overall ROI after appreciation, pay down and cash flow plus a free place to live. Our Cash on cash returns aren't great until year 2-3 though, but our market is historically one of the most stable and rents consistantly rise. Tenant quality is good here, and my region is the fastest growing in Ontario Cambridge did about 5.8% medium appreciation and Kitchener 6.6%. What I love is that when you control an asset with 20% equity, you still get appreciation on the whole asset. So you get to multiply your returns by about 5.

Why not focus on your market area of expertise here in Canada. Then become successful and make enough money to go on vacations when ever you please, that's my goal! Love Canada but the winter does suck, but  i find it much easier to make money in my own backyard.

I know some European investors who have changed their focus to the Canadian market. I would reccommend on looking out of Europe, a colleague of mine is from France he said he moved here because the returns are terrible and financing is tough. Although I'am sure the opportunity would be there if you look hard enough.