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Why Right Now is the Perfect Time to Refinance!
Laura SawatzkyLaura Sawatzky   February 10, 2016   1429   0   3   0   0   0
In Alberta, the hard economic times have come at a huge cost to many families. It is times like these that make it extremely important to take a look at your monthly costs and see where you can save money. Whether it is to consolidate debt, lower your monthly payments, or take equity out - now is a great time to refinance. Go grab your current mortgage statement and see how we can help you. With an average mortgage of $300,000.00 and an average interest rate of 3.29% vs the current fixed rate of 2.69% you would save $92.31 dollars per month on your mortgage payment. Over the course of a 5 year term you would save $5,538.60 in payments, $8,496.00 in interest, and $2,958 towards your principle balance. Your total savings would be over $15,000.00! With a variable rate at 2.3% you would save even more! $150.55/month in payments, and over a 5...
 
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Stephen made no change to the interest rates today!
Claire DrageClaire Drage   January 20, 2016   1354   0   2   0   0   0
Stephen made no change to the interest rates today! On Wednesday January 20, 2016, Stephen Poloz, the Bank of Canada Governor maintained their overnight rate which in essence means no change to the interest rate on your variable rate mortgage, line of credit and/or student loans. This was despite the pressure to consider dropping their rate in order to relieve the publics concerns with the current economic conditions. For those that qualify and it makes good financial sense, now is the right time to borrow money – maybe for some renovations that would increase the value of your home or consolidating some debts that don’t seem to be going away anytime soon! So what about those that don’t qualify because of course we all know that banks give you money when you don’t need it! Read down below for some more information on how I can help. If you would like a...
 
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Maureen DivinagraciaMaureen Divinagracia   January 13, 2016   3404   0   0   0   0   0
Investor Paul Hecht on buying Canadian foreclosures for 50 cents on the dollar. "Foreclosures are all across the country as banks need to liquidate these non-performing assets off their books. Take advantage of these amazing bargains and buy them at 50 cents on the dollar. Most banks will take what is owed on the mortgage or less. Find out how through our foreclosure subscription." Sounds great doesn't it? This is actually a headline from a database subscription company offering to show you how to buy foreclosures for 50 cents on the dollar. Unfortunately it is a U.S.- based service. You won't see those kinds of headlines in Canada since the foreclosure process here is much different than in the U.S. I've purchased homes directly from owners who are facing foreclosure as well as represented major Canadian lenders as a Realtor selling their foreclosures (otherwise known in the lending world as "non-performing assets"). I can tell you...
 
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Foreclosures in Canada
Navtaj ChandhokeNavtaj Chandhoke   January 13, 2016   2235   0   2   0   0   0
Foreclosure Process in Canada, The word “foreclosure” is a nightmare for the property owner as well as for the Lender. It happens all the time, regardless which cycle the market is going through, although the numbers do tend to go up during the Real estate bust cycle. Foreclosure is a legal action that a money-lender can take if the person who borrowed money using a mortgage stops paying back that mortgage. Foreclosure allows the lender to take or sell that person’s house by first getting a Court’s permission to do so. When a property-owner misses a mortgage payment or makes a late payment, the property owner will not automatically lose their property. Lenders don’t want to foreclose if they don’t have to because it is expensive and is a lengthy process. A lender will probably not start to foreclose until two or three months after the borrower has stopped paying. Normally, a lender will first send letters...
 
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The Art of Commercial Real Estate – PX
Sam Sam MasouSam Sam Masou   December 08, 2015   1927   0   1   0   0   0
24. Capitalization rate (CAP Rate): [%] - Capitalization Rate is probably the most used element in evaluating commercial real estate. Some considers it an essential part in property analysis, while some others uses it as a secondary factor. Capitalization Rate has been discussed and taught in almost every real estate course. - Capitalization Rate – more commonly referred to as “CAP Rate” – is a key formula to understand when evaluating real estate from the perspective of an investor looking for income properties. The Cap Rate helps you to determine how long it will take for your investment to pay for itself. - The CAP Rate is calculated by the percentage of dividing the NOI by the total value of the property. CAP Rate = Net Operating Income (NOI) / Property Value [%] - CAP Rate is the most important number to understand in commercial real estate. - CAP Rate...
 
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The Art of Commercial Real Estate – PIX
Sam Sam MasouSam Sam Masou   October 21, 2015   2528   0   1   0   0   0
22. Cash on Cash Return (CCR): [%] Also known as Return on Cash Cash on Cash Return (CCR) = Cash Flow (CF) / Cash invested [%] Cash on Cash Return is a percentage that measures the return on cash invested in an income producing property. CCR is probably the most important ratio you need to focus on when evaluating the long-term performance of a property investment. CCR is the property's annual before tax net cash flow divided by your net investment, expressed as a percentage. CCR does not include property appreciation which is a non-cash flow item until the year of sale. Therefore, if you are evaluating a property on a long-term basis, you need to focus more on the annual cash flow as it relates to your investment, and focus less on property appreciation. Cash on Cash Return is used to evaluate the profitability of income producing properties. It can be useful when comparing investment properties as one...
 
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First Time Home Buyers’ Plan – Using RRSPs to Buy
Jarek BucholcJarek Bucholc   October 18, 2015   3779   0   1   0   0   0
For new home buyers that are searching for down payment options, they may not need to look too far. The First Time Home Buyers’ Plan (HBP) is a government program that uses funds from an RRSP to purchase or build a home. A buyer can withdraw up to $25,000 in a calendar year to put towards their own home, or for a related person with a disability. For those without an RRSP, or the money to invest in one, there are options available. Many financial institutions will lend funds, with interest only payments, to borrowers in order to contribute to an RRSP. THINGS TO KNOW The RRSP can only be used for the home purchase of the annuitant. Funds must have been invested into the RRSP for a minimum of 90 days. The buyer must not have owned property within the...
 
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CFG-Cash-Flow.jpg
Sam Sam MasouSam Sam Masou   August 25, 2015   2389   0   1   0   0   0
19. Cash Flow (CF): Also known as Annual Cash Flow; Before Tax Cash Flow (BTCF); Cash Flow before Tax (CFBT) or Pre Tax Cash Flow Cash Flow (CF) = Net Operating Income (NOI) - Debt Service (DS) Cash flow is a very important number. It can determine how profitable the property will be prior to the tax implications. Every person has a different set of circumstances, therefore determining the CF can assist with developing tax reduction strategies. In order to get accurate figures, the following has also to be included: • All the capital expenditures (money spent on property improvements) whether they are deductible in the current year or not. This is actual money spent. • Borrowed funds for the capital expenditures or additional financing other than the original mortgage. • Any interest was earned through the property. This must also be added into the calculation to determine the CF. ...
 
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CivilForfeiture#11.jpg
Navtaj ChandhokeNavtaj Chandhoke   August 05, 2015   1757   0   1   0   0   0
Civil forfeiture :Ontario was the first jurisdiction in Canada to introduce civil forfeiture and 8 out of 10 provinces have such programs today.Professional real estate investors must learn this and become aware of this law. Various provisions of Canadian federal and provincial law permit Canadian Courts to order that a citizen be deprived of what may generally be referred to as either offence related property or proceeds of crime.What you do not know cost you big time, that’s why every Canadian real estate investors must learn form Canadian real estate experts. In eight provinces in Canada, the government can take away your home, your car and your cash, without ever charging you with a crime. Most people are not aware of how easily the government can take away their most valuable possessions. It doesn’t matter if you’ve ever been charged with a crime. In many cases the government doesn’t need to go to court at all!...
 
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Jarek BucholcJarek Bucholc   July 29, 2015   4126   0   0   0   0   0
Considering that at the ‘heart’ of what we do is to help clients become financially free (or at least better off from a net worth perspective), it’s a bit ironic that we help clients acquire property via mortgage loans… That’s only step 1. Step 2 is really educating borrowers on how to pay their mortgage off before their contract says they can. Here are four small-but-effective ways that you can save on your mortgage beyond just having a low rate: 1) Make accelerated payments instead of regular monthly payments. The calculation of simply switching your payment frequency from Monthly to Bi-Weekly Accelerated on a $200,000 mortgage (4.00% interest rate, 25 year amortization) would only save you $614.53 in interest over 5 years, but you would kill off an extra $5,874.73 of the principal balance of your mortgage in the same time period. The faster your mortgage is...
 
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The Art of Commercial Real Estate - PVII
Sam Sam MasouSam Sam Masou   July 29, 2015   2864   0   1   0   0   2
16. Down payment (DP) Down Payment is the total cash the buyer will bring to the closing table which will go towards the Purchase Price - in addition to any other due diligence or closing costs. DP is usually 15% - 40% of the Purchase Price of the property depending on the deal structure and lenders requirements. 17. Deposit Also known as Earnest Money or Earnest Deposit The Deposit is the amount of money which is paid at the time when the purchase contract agreement is signed - legally binding all involved parties. The deposit is usually nonrefundable if the buyer defaults and it is considered as a compensation for the seller for taking the property off the market, otherwise it will go towards the Purchase Price – Down Payment (DP). The amount of deposit is always expressed in the contract, along with the time limit to be deposited. The deposit can be done in one...
 
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What happens to your credit rating when you miss a mortgage payment?
Richard MoxleyRichard Moxley   July 22, 2015   1398   0   1   0   0   0
Your mortgage payment doesn’t always show up on your credit report, but if you are late on multiple payments, it could affect the interest rate you’re offered from the bank when your mortgage comes up for renewal again. If you miss three consecutive payments or more in a row, it will lead to foreclosure proceedings, which is when the bank or lender starts the process of legally taking ownership of your property due to the lack of payments. Banks or lenders don’t want to own your home, but if the lender isn’t getting paid, it will try and sell the property in order to reduce its losses. Foreclosure shows up under the public record portion of your credit report. You may assume that bankruptcy is the worst thing you can do for your credit; however, if you are applying for mortgage financing, going through a foreclosure is the absolute worst thing you can do...
 
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Home Appraisers and What They Do
Jarek BucholcJarek Bucholc   July 20, 2015   3701   0   1   0   0   0
Allowing a home appraiser to come and inspect your house is always a difficult process to go through. Often, home owners are rather surprised at the market value that a home appraiser comes up with, but rest assured - a home appraiser's valuation is usually right on target. There are two things to think about before you begin the home appraisal process. First, think about the types of repairs that you can make to your home following an appraisal. Then, think about the ways in which you can further market your home if the appraisal is not what you had in mind. While considering these two things, you can allow a home appraiser to run through your house, and you will come out with a market value that you can either work with, or attempt to change. If you think about it, having your home appraised is really a blessing in disguise....
 
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Are Rent To Own Deals Risky?
Terry HepditchTerry Hepditch   July 20, 2015   3854   0   1   0   0   0
Rent to own is a great concept where a family wishing to buy a home is declined at the bank due to a number of reasons such as credit issues, employment, type of house or location. With no other options to buy besides coming up with a 25-35% down, they can enter into a rent to own agreement with as little as 2-5% down. They pay market rent plus an additional option credits to be applied to the initial down, and exit in a couple of years and be approved for a mortgage. The concept is simple, the investor holds onto the deposit as collateral, and they keep it when the tenant defaults. Simple right? Allow me to enlighten you on the other side of the fence. Financial lending in Canada has changed greatly over the last five years with the departure of major sub-prime lenders such as GMAC, Accredited, HSBC Financial, Citi Financial, Wells Fargo...
 
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How High is your Glass Ceiling?
Terry HepditchTerry Hepditch   July 20, 2015   1863   0   1   0   2   0
For many investors, the ultimate dream is to build passive income high enough to say good bye to your day job. This is what we learned through Robert Kiyosaki's four quadrant where you move from the initial quadrant of employee to fourth quadrant as investor. This is where your money is working for you and you not working for your money. This all sounds great investing into Real Estate, but banks has a way of capping this dream of yours. As we know with our current banking rules, to get the lowest mortgage rate, an investor has to provide a minimum of 20% down plus closing cost for investment properties. Unless the investor has a minimum of 3 income properties, the banks will only approve the loan based on Rental Offset where they will take only a portion of the rental income and all of your debts including your personal mortgage. Your total amount of debt...
 
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682 results - showing 61 - 75  
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This is a question many real estate investors and...
 
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I read a recent article by Seth Godin talking...
 
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As full-time Canadian real estate investors, we are always...
 
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Frothy real estate markets attract more than young families...
 
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Alberta Foreclosures going through the Roof FOR...
 
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Proper planning is important with any remodeling project, but it...
 
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One of the toughest parts of being an investor...
 
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KNOWLEDGE OF THE MARKETPLACE Our property managers are trained...
 
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As the Marketing Director for Hamill Creek Timber Homes...
 
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One of the keys to...
 
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