Flipping houses for Profit

Flipping houses for profit requires
three simple components. If you’re
just start flipping, you are focus
from generating leads to meeting
with panic home sellers and marketing
properties to wholesalers. After a
while, handling multiple roles will
become exhausting! Professional real estate
investors require training, coaching, field training from
fellow Canadian real estate experts.

Flipping houses for Profit

 

 

 

 

 

 

As your flipping houses for profit
continues to grow, you’ll want to
hire an entourage of experts to help
take most of the responsibilities.
There are several essential components:
acquisitions, due diligence and
assignment of the contract.

Acquiring for pennies on a dollar

Acquisitions simply focus on acquiring
the property at deep discounted price.
Our focus is not only fixer upper
properties but those who are in
panic state who needs cash now.
This is done by generating convertible
leads to an acceptable offer.
Communicating with highly panic home
sellers focusing on their needs is
the key to close more deals.

Flipping houses for Profit

 

 

 

 

 

 

Here are three key skills that
will make you successful in acquiring
real estate deals pennies on a dollar.

1. Analyzing profitable deals for Flipping houses for Profit

You must know how to analyze deals
very quickly. One of the very first
steps to becoming a successful real
estate investor is learning how to
run comps and analyze leads correctly.
Using all the tools available from
tax bill to assessment values can
provide you precise information.
Even a year old appraisal can add
value to determine the current
market value.

2. Building Rapport with Panic Home sellers

Our role as professional real estate
investors is to help panic home sellers
get out of distressful situations.
In order to get our sellers to open up
about these situations, we must genuinely
build rapport. Be careful if you start
appearing to be snake oil salesperson.
Listen carefully and never interrupt while
the panic sellers are blaming others.
Being a great listener will get you more deals.

Flipping houses for Profit

3. Sensing Urgency Motivation

Home sellers will call you to sell their
properties expecting the highest value.
They may not have time and cash in their favor.
How quickly they need to move out will determine
their panic value. If the home owner is
facing foreclosure or eviction within few days,
their exit strategy is timing not the price.

4. Understanding Purchase and Sale Agreements

Purchase and sale agreements are standard
documents. You must have few clauses to protect
you in case you are unable to flip before closing.
Use simple one-page letter of intent for panic sellers.
We highly recommend consulting with a lawyer to
help draft up all paperwork. Standard letter of
intent to purchase real estate, assignment forms
and purchase and sale agreements may require
additional addendum.

Assignment (FLIP) of the contract

Flipping houses for Profit

Once you have a property under contract you
like to flip or assign the agreement to a
cash buyer for a fee. You need to have all
ducks in line and time is in the essence.
Here are three key skills that will make
you successful in flipping houses for profit.

1. Building a Rapport with Cash Buyers

Real estate is all about relationships with
people. Being fully transparent in flipping
houses will get you awesome reputation.
Cash buyers need crystal clear information
of the subject property. They will obtain
an appraisal, home inspection and quote
from general contractors. Cash buyers
must receive the highest amount of
profit in each deal.

2. Magnetic or Blind Marketing

Flipping your property under contract
can be challenge. Co- wholesaling, using
realtors, joint ventures are the best
solutions to assign the property as
soon as possible. Always sell these
properties far below its current
market value. Start building a list of
real estate cash buyers. Join local
REI club to expand your business horizons.

Flipping houses for Profit

 

 

 

 

 

 

Be precise with your approach to the
cash buyers. Keep it very simple and
straight to the point. Let them know
what you paid for it. How much you
want your flip or assignment fee.
What is the current and after repair
market value based upon the facts.
If you happen to have three estimates
from contractors, hand them over.
Cash buyers may not have time to
do basic due diligence.

3. Understanding assignment procedures

It’s critical that you understand various
wholesaling closing strategies
(assignments, double closing,
the simple close) because you’ll need
to communicate them in your purchase
agreements with the investor-buyers
interested in buying your properties.

Understanding assignment (Flip Before closing) process

Assignment forms shall be prepared
by real estate lawyer. Preparing any
kind of contract without legal advice
can be lethal. Ask your lawyer to prepare
and execute non-disclosure non
circumventing agreements.
Cost of legal expenses is far less
than the losses you could have otherwise.

Remain FOCUS on your top priorities

Remain laser focus on putting deep
discounted deals under contracts.
Finding and nurturing healthy business
relationships with fellow investors and
coaches. There will be times when you
must close multiples deals at a time.
You will require help from fellow
investors in form of joint venture
or hard money.
Organization will be critical because
you’ll be handling all of the paperwork
for each and every transaction.
You want to close fast, you must
maintain organization to ensure
each deal is closed properly and in a timely fashion.
Here you have full breakdown of the real
estate flipping houses for profit
right at your fingertips!

Warren Buffett’s advice for 2017

Worth over $75Billion and considered to be one of the world’s most successful investors, Warren Buffet was asked what his advice is for being successful in 2017.

His answer was Christmas cards should not just be for Christmas but should be for the whole year.

Buffet writes a letter or a handwritten note almost everyday which typically includes a line of gratitude, or a few words of praise.warren-buffett-knewrich

Buffet says that whether its business or pleasure, ultimately everything is personal.

To relate it back to real estate – next time you are flipping areal estate deal, be more personal and see the difference it makes.

Panic sellers feel much more comfortable once you connect with them on a personal level.“Hand written notes add a lot more value, respect and trust” says Navtaj Chandhoke, founder of Professional real estate investors group (PREIG) Canada.

It is the businesses and people who endear themselves to others, that are the ones which will endure.

Mike Flint, Warren Buffet’s personal airline pilot says that Buffet loves to have deep conversations and is more interested in hearing about your childhood, what makes you mad, what makes you laugh and what makes you cry rather than talking all things investment.

mailinglist

As Buffet says, “Trust grows not from reason, but from the heart. How people feel has more binding power than how they think. Besides, life is so much fun when you’re trusted and worthy of trust.”

So don’t just communicate, connect. Warren Buffet’s advice for 2017.

Connect with fellow real estate investors at Professional real estate investors group (PREIG) Canada at the next networking meeting.#3

 

Have you received this from a friend, social media or search engine? Why not join our mailing list? We’ll use your email address to send you latest articles, events and deep discounted real estate deals from time to time.

“If you don’t find a way to make money while you sleep, you will work until you die.” ― Warren Buffet

Rule No. 1: Never lose money; Rule No. 2: Don’t forget Rule No. 1. – Warren Buffet

Every saint has a past. Every sinner has a future. –Warren Buffet

 

City of Peterborough Home ownership Assistance Loan Program 2017

Home ownership Assistance Loan Program 2017

 

 

 

 

 

 

The City of Peterborough is offering a
$15,000 loan to assist with a down payment

. The eligibility criteria for this Program include, but are not limited to, the following:

Applicants:

Are currently renting (as defined by the Residential Tenancies Act,2006);

Do not presently own a home or property;

Do not owe money to a social housing landlord;

Have a gross annual household income up to $78,400;

Will use the purchased home as the sole and principal residence;

Qualify for a mortgage from a qualified lender; and

Are at least 18 years old.

The Home:

Is purchased for $300,000 or less;

Is a single detached, semi-detached, townhouse, row, or apartment unit
(freehold or condominium);

Is inspected by a professional home inspector (resale homes); or

Is covered under the Ontario New Home Warranty Program (new homes);

Is located in the City or County of Peterborough; and

Is of a modest size (approx. 1100 sq. ft for a 3 bedroom home).

[b]Application Process:[/b]

Step 1

Household eligibility approval

Mortgage pre-approved by qualified lender

Homeownership Education complete

Step 2

Requires signed-back Agreement of Purchase and Sale dated at least 5days
later then the date of your Step 1 Eligibility Approval Letter and with a
minimum of 30 days notice of the closing date

Signed-back Loan Agreement to receive loan upon closing

Other Key Points:

The loan is forgiven if the home
is the sole and principal residence for 20 years, but is otherwise repayable.

The loan is registered on title as a second mortgage on closing.

Canada Mortgage and Housing Corporation (CMHC) mortgage insurance treats the
$15,000 loan as equity.

Additional funds may be available to
applicants moving out of social housing.

Household assets, including any gifting amounts from
friends or family, savings, GICs etc. cannot exceed $15,000.

RRSPs do count towards personal assets
if they can be accessed for home
purchases as per Canada Revenue Agency guidelines.

The loan amount may be decreased if
$15,000 is greater than 10% of the purchase price.

Loans will be offered, subject to availability, on a first-come, first-serve basis.

The Program ends when funding has been allocated or December 1, 2017

The Affordable Home Ownership program by Chatham-Kent Housing Services

Affordable Home Ownership

The Investment in Affordable Housing (IAH 2014 Extension), Homeownership Program is being delivered by Chatham-Kent Housing Services on behalf of the Federal and Provincial governments. The Affordable Home Ownership program provides individuals and families with a loan for the down payment on a home.

Applications are now being accepted!

If you qualify, you can receive 7% of the purchase price of a home,

up to a maximum of $7,300. Funding is in the form of a 20 year interest-free loan registered on title.

The home must:

Be located in the Municipality of Chatham-Kent
Have a maximum purchase price of $153,900
Be approved by Chatham-Kent Housing Services Division
Have a home inspection completed by a Registered Home Inspector or Associate/Applicant Member of the Canadian Association of Home and Property Inspectors. The cost of the inspection is at the purchaser’s expense.

To qualify you must…

Be at least 18 years old and currently renting
Not own or not partly own another home or property
Not owe money to a Social Housing landlord
Be a legal resident of Canada
Have a total gross household income of $68,000 or less
Be eligible for a mortgage at a recognized financial institution
Intend to have this home as your one and only residence (you cannot transfer or lease it to someone else)

How do I apply?

Read the CKHS Home Ownership Fact Sheet
Complete and sign the CKHS Home Ownership Application Form
Deliver or mail your completed application form to CKHS with all of the required supporting documents

For a copy of the application:

Call CKHS to have an application mailed to you
Visit the CKHS office during regular office hours: Monday to Friday (excluding holidays) 8:30 a.m. to 4:30 p.m.
Note: Details are subject to change at the discretion of the Chatham-Kent Housing Services Division (CKHS) and per the requirements of the Ministry of Municipal Affairs and Housing.
Be sure to check back regularly for updates!

The Affordable Home Ownership program by Chatham-Kent Housing Services
https://www.chatham-kent.ca/HousingServices/housingprograms/Pages/HomeOwnership.aspx

Learn more about Forgivable Canadian real estate grants at
www.GovernmentGrantsCanada.ca

Canadian Cash Buyers in Real Estate

Who are Canadian real estate cash buyers? Canadian Cash Buyers in Real Estate are entities who have bought real estate with cash, or members of Professional Real Estate Investors Group (PREIG) Canada. Canadian real estate cash buyers can buy real estate at deep discounted prices, and have the resources to do so. Canadian Real estate cash buyers will buy all kind of properties including houses, condos, multi units, commercial, industrial and land. All they need is information on the current market value, and the after repair value.

Canadian Cash Buyers in Real Estate

They can close deals really really fast because of market research and current trends.

Canadian Real Estate Cash Buyers

Cash buyers have taken training and coaching from www.Flipping4Profit.ca and are active members of the Professional Real Estate Investors Group (PREIG) Canada.

Canadian real estate cash buyers can be wealthy Canadians, real estate renovators or rehabbers and wholesalers, who have the capital or access to private hard money lenders to purchase properties without conventional financing.

Are you a Canadian Real Estate CASH Buyer? Please add your name, valid email, Canadian mobile number to receive wholesale deals and timely information including meetings, bus tours, seminars & coaching!

Please add preigcanada@gmail.com in your address book to receive emails in your inbox!

Canadian real estate cash buyersCanadian real estate cash buyers do not need to get qualified for financing to close on a deal. Real estate cash buyers can close quickly once appraisal is done because they offer all cash for their real estate deals and understand real estate acquisition is at deep discount with all cash.

Canadian real estate  cash buyers are essential to any real estate investment business, and are exceptionally good at creating success in quick flipping.

Canadian real estate cash buyers

Without Canadian real estate cash buyers …you are not in business!

Having real estate is useless if nobody wants to buy it, Cash buyers want your real estate deals, and will buy them from you. Any good real estate investor know that having access to a Canadian real estate cash buyer makes a huge difference.

Join professional real estate investors’ group (PREIG) Canada membership right away. Learn from fellow Canadians with proven record. Canadian real estate cash buyers like to deal with professionals wholesalers who have in-depth knowledge of local market, laws and banking.

Canadian Real Estate Investors Seminar

Don’t forget to attend live upcoming networking, training, live eye witness deals in the trenches, apprenticeship and seminars to expand your business horizons.

Canadian real estate cash buyers feel more comfortable dealing with those who they have seen in local real estate networking meetings rather than strangers.

We have been serving successfully fellow Canadian real estate investors, cash buyers and wholesalers from 1993.

Canadian real estate cash buyers