To All of My Investors,
In order for you to get the deal of the century, you need to keep any eye on the market place. Let me know which area is of interest to you and the price range you find most comfortable buying in.
Now is the time, AGAIN, to buy fixer uppers. Good Areas, cosmetic surgery only, no structural flaws, no highways, cemetaries or plazas behind, beside or in front of you.
It's also the time to BUY a good property, from a have to sell seller, in a great location and HOLD it in your portfolio and RENT it OUT for a couple of years… till such time as the prices go up.
The properties you should be looking for are ones that have been overly improved and are in need of desperate sale. Bankruptcy, divorce, loss of job, or those who were foolish enough to BUY first and then are greedily trying to SELL LAST. Some home owners are on their 3rd or 4th realtor in hopes of attracting an offer to sell their overpriced property for financial reasons… They are the ones who will settle for a lower than fair market price offer.
The properties that are in the Bank’s hands (POWER OF SALES) are not the ones you can bargain basement sale price anymore. They are obligated, BY LAW, to try and get the fair market price of the property for the seller or they will get sued.
With nothing to sell and equity in your home, you have the ability to buy your future larger home, investment, or retirement home at very low interest rates and the mortgage increase is tax deductable, because you are using the money to buy an investment in Ontario. Some banking institutions are incredibly low and are willing to pay you to take a mortgage from them... hahaha!! You need to sit down and calculate and weigh all your options with a Mortgage Broker with investor's savvy.
Finding THE SELLER who is BLEEDING... IS MY JOB !
YOU are the BANDAGE!!!