Las Vegas Makes The Blue Jays World Series Favourites For 2013

Posted by neil on December 29, 2012
General / No Comments

Hi Friend,

I hope you are doing well.  If you are from the Toronto area and happen to be a Baseball fan, this is an exciting time for you.

The Toronto Blue Jays have made some serious moves this off season in order to bolster their lineup for the 2013 season.  It has been 20 years since Toronto’s World Series Back To Back Championships.

With some serious off season acquisitions, the fans of the Toronto Blue Jays are excited more than ever and ready for a long awaited playoff run! Also, Las Vegas made the Blue Jays World Series favourites for 2013.

As a new real estate investor looking to purchase your first rental property, there is a lot that you can learn the The Toronto Blue Jays Front Office.

This Winter the Blue Jays Brass went for it!

They took a shot and said that this year was going to be THEIR year.

They made a decision that the year 2013 was going to be the first of many winning seasons…

The Blue Jays Front Office made a massive decision.  They made the decision that they were going to WIN!

When it comes to real estate investing, you also have to make this very same decision.

You have to make the decision that in 2013, you are going to WIN by buying your first rental property.

Sometimes in life big things happen when big decisions are made.

I would like to see many of you make the decision to finally take the plunge and buy your first rental property.

Why wait?  The Blue Jays didn’t.

If the only Canadian Major League Baseball Team can make a run at he World Series this year, anything is possible!

Happy Investing!

Best Regards,

Neil.

 

ps: I am an experienced real estate investor and Licensed Realtor.  Every day I help people just like you purchase their first rental property.  If you would like me to help you purchase your first rental property, and you are in the Toronto area, send me an email at NEIL@FIRSTRENTALPROPERTY.COM, and I will help to get you started.

pps: Don’f forget to check out the following post which gives a detailed breakdown of How To Buy Your First Rental Property

Tags: , , ,

Top 10 Things That All Experienced Real Estate Investors Dread…

Posted by neil on December 14, 2012
General / 1 Comment

Hi Friend,

New real estate investors are just like experienced real estate investors.  The similarity between these two groups is that they are both afraid of the same things when it comes to real estate investing.

The experienced real estate investors have learned how to deal with the fears that they experience.  Whereas, the new real estate investors have not yet learned how to handle or cope with the fear that they experience surrounding real estate investing.

When I first started investing in real estate back in 2005, there were many things that I did not know and there were many things that I was afraid of.  I was able to fight past these fears and I have since gone on to purchase Oakville real estate, Hamilton real estate, and Toronto real estate.

Here is a complete list of the:

Top 10 Things That All Experienced Real Estate Investors Dread…

1)  CALLING TENANTS

When a real estate investor has to call their tenant, they become nervous because at that time there may be something that needs to be fixed.  At this time the item that needs to be fixed could be big or small.  The investor may have no idea how to fix the item, and may not know anyone that they can call in order to have the item fixed.  As  a result of this, the investor delays calling their tenant, because they are avoiding the problem.

What can you do about it?

You must set up a time and call your tenant every “first of the month.”

  •  Force yourself to do it.
  •  Make it a routine.
  •  Put it in your calendar.

There should be at the very least, communication via telephone with your tenant once a month.  Email and text is not as effective communication versus over the phone.  Face to face is the best.

2)  REPAIRS AND MAINTENANCE

All real estate investors are  afraid of the potential repairs and maintenance that arise with their rental properties.  They are afraid of this because they always want to remain profitable, and they don’t want to lose money on their investment.  When people lose money on an investment it causes them to begin to question their investment..

What can you do about it?

Have a reliable person you can always call upon for repairs and maintenance.  Deal with repairs and maintenance issues as they arise.  Don’t put them off.  If you put them off they can become worse with time.  As such, a repair that may have cost $200 may end up costing you $2000 due to increased damage to the property.

3)  RENT COLLECTION

Experienced real estate investors worry about rent collection and if a tenant will pay rent on time.

What can you do about it?

Be firm.  Do not bend the rules.  If the rent is late, you submit the proper notice.  Make sure that the tenant keeps their word.  If the rent is late and the tenant says that they will provide it by a certain date, if the rent is not provided by the date, don’t’ keep on giving them grace.  Call them on it, and enforce the non payment of rent through the proper means.

4)  OPERATING LINE

Some experienced real estate investor worry about their operating lines going “too high”, and their revenues not being sufficient enough in order to bring it down.  More eloquently put, they worry about drawing too much of their operating line, and  fear that the revenue (rent collected) will not be sufficient in order to pay down the operating line.

What can you do about it?

Think like a bank..  Some Canadian Banks like BMO Bank of Montreal  lend 10 to 15 percent of a company’s gross annual sales in the form of an operating line.  Consider only borrowing that amount, and thus drawing your operating line to that amount.  This will give you peace of mind and will ensure that yhou are not over extending yourself.

5)  WATER LEAKS

Experienced real estate investors worry about leaks in the bathrooms and the damage it will cause to the house, overall if not looked after.

What can you do about it?

Inspect regularly for water damage.  Make sure you do caulking on a regular basis. If you notice water seepage early, make sure that you do the work to repair the damage before the damage becomes more severe.  Have someone inspect the property who has an eye for detecting water damage.

Interested in learning about the NEXT 5 Things That All Experienced Real Estate Investors Dread?

Check back into First Rental Property for the conclusion of this blog post…

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: I am an experienced real estate investor and licensed Realtor.  I help people like you everyday buy their first rental property.  If you are interested in purchasing  Toronto real estate, Ottawa real estate, Brampton real estate, Hamilton real estate, Richmond Hill real estate, Oakville real estate, Mississauga real estate, North York real estate, Kitchener real estate, or Brantford real estate send me an email at NEIL@FIRSTRENTALPROPERTY.COM.

 

Tags: , , , , , , , , , ,

Don’t Count Your Money Every Six Months

Posted by neil on December 10, 2012
General / No Comments

Hi Friend,

I hope you are doing well.

Investing in real estate is a long term strategy.  Most new real estate investors who are just starting out think that they are going to become rich by investing in real estate.  They feel that they will become wealthy the moment they purchase their first rental property.

The reality is that you can become wealthy by investing in real estate, however, becoming ‘rich’ does not happen overnight.

To become wealthy through investing in real estate takes a life time of  focus and commitment.

When I bought my first rental property in Oakville, Ontario, Canada, I did not know much about real estate investing.  All I knew was that I wanted to make money by investing in real estate.

I first thought that I would only own the property for between 3 to 5 years.  As time went on, and the more I discovered about real estate investing, the more I realized that I should own my first rental property for as long as I possibly could.

By speaking to and studying the habits of many veteran real estate investors, I discovered that wealth is created through real estate investing over the long run.

Further, buying and selling rental properties without a clear action plan does not help you to become wealthy.

What I Did Last Year…

This past year I was attending a real estate event in Toronto called The Property Show.

A prominent real estate broker and developer was speaking at the event.  The individual was Brad J Lamb, aka, Brad Lamb.

Brad was addressing a question from an audience member on the topic of real estate investing.

Brad said something to the audience member that has stuck in my mind ever since.

Brad was explaining the to audience member that real estate investing was a long term strategy and that you:

“Don’t count your money every six months”

These were very wise words. Experienced real estate investors know that  a trap that you can fall into is to closely reevaluate your real estate investments over and over again.

The point that Brad was making was that if your investments are performing well, don’t constantly monitor them.  The action of over monitoring them is not a productive one.  Just let the be, and just let them to continue to grow through mortgage pay down, appreciation and cash flow.

This was a short post today, but real estate investing in NOT a short term game.  For a detailed breakdown of how to do things properly, visit my most popular blog post to date:

How To Buy Your First Rental Property

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced real estate investor and Licensed Realtor.  I help people like you everyday purchase their first rental property.  If you are looking to purchase Toronto real estate, Ottawa real estate, Brampton real estate, Hamilton real estate, Richmond Hill real estate, Oakville real estate, Mississauga real estate, North York real estate, Kitchener real estate, or Brantford real estate, please send me a message at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started !!!

Tags: , , , , , , , , , , , , ,

New Real Estate Investors Are Just Like Babies. Read On To Find Out Why…

Posted by neil on December 07, 2012
General / No Comments

Hi Friend,

I hope you are doing well.

There is one big similarity between new real estate investors and babies that I have observed and which I am going to share with you in today’s blog post.

Before doing that, I am going to tell you a little bit about how I got started in real estate investing.

My Story

I purchased my first rental property in 2005.  The property that I purchased was a townhouse and was located in Oakville, Ontario.  I purchased the property for $250,990.  The property was new construction, meaning that the property was in the process of being built.  When I purchased the property from the builder, the deposit requirements from the builder at the time was $15,000.  I obtained a First Mortgage from Royal Bank of Canada, which is one of Canada’s and North America’s leading banks.  The interest rate on the mortgage at the time was 4.25%.

When I bought my first rental property, I was not a member of an awesome real estate investment group, nor did I know anyone very well that was an experienced real estate investor.  As such, I had no one that I could ask questions of.  If I had a real estate specific question, I had to figure out the answer on my own.  Due to the fact that I had to learn everything on my own, it took me approximately one year from the time in which I began researching potential rental properties to the time in which I bought my first rental property.  When I purchased my first rental property, I had no one to hold my hand and help guide me through the process.  I was on my own.

Why New Real Estate Investors Are Just Like Babies

You as the new real estate investor need to have your hand held, just like you had your hand held when you were a a baby.   When you were a baby, you had your hand held by older people who simply knew better than you.  Your hand was held in order to provide you with some guidance and with comfort.

For example, if you were crossing a very busy and dangerous street, your hand should have been held by an older person who was able to keep you by their side until there was a break in traffic and until the street was safe to cross…

Further, when you were a baby, if something startled you and you became scared, an older person would hold your hand in order to provide you with some comfort.

The Same Applies In The Real Estate Investing Game…

…If you are a new real estate investor, you need to have your hand held.

You need to have experienced real estate investors lead you through the path of least resistance.

You need to have someone there who can answer your questions and help eliminate your fears.

Most importantly, you need someone to hold your hand and lead you to the right real estate investment opportunities.

When you are a new real estate investor (or baby for that matter) you have no idea about right from wrong.  You have no idea about what real estate investment is right for you.  As a result, you need someone there, who is experienced and trustworthy who can hold your hand, and help guide you in the right direction and toward the right real estate investment opportunity.

If you never have anyone there who is guiding you towards the appropriate investment opportunities, chances are is that you could be spinning your wheels and never end up buying your first rental property.

The reason why I say this is because I encounter hundreds of new real estate investors who do this. They don’t have the right guidance, they spin their wheels and they never take action, and never buy their first rental property.

If you want to do it right, get someone who you can trust who can hold your hand and lead you to the right investment!

Happy Investing!

Neil Uttamsingh

ps: Remember, I am an experienced Real Estate Investor and Licensed Realtor.  I help people like you buy your first rental property.  If you are interested in buying Toronto real estate, Ottawa real estate, Brampton real estate, Hamilton real estate, Richmond Hill real estate, Oakville real estate, Mississauga real estate, North York real estate, Kitchener real estate, or Brantford real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started in the right direction !!

 

Tags: , , , , , , , , , , , ,

Real Estate Investment Monthly Workshops: A Social Night Out or A Game Changer?

Posted by neil on December 06, 2012
General / No Comments

Hi Friend,

I hope you are doing well.

One night can change your life or be a complete waste of time.  Whether you experience the change or you misuse your time is entirely up to you and no one else.

When I was first starting out as a real estate investor, I was obviously looking for advice on how to buy a rental property.  Initially, I was never a part of any real estate investment monthly workshop like the Landlord Bootcamp For Beginners.

I was able to navigate things on my own at the beginning and ended up purchasing Oakville real estate, Hamilton real estate and Toronto real estate.

Today things could not be easier for the new real estate investor.  There are lots of quality real estate investment groups that exist that provide support and guidance to the new real estate investor.

If you reside in the Greater Toronto Area, the following real estate groups are ones you should consider joining if you are looking to purchase your first rental property.

Thornhill Wealth Forum

Real Estate Investment Network

Landlord Bootcamp For Beginners  ( I run this group, along with a few key Team Members)

A word of caution to you.  These groups are for serious action takers.  If you are looking for a social night out, you are better served by attending  a local pub in your area.

 I have a Beef To Pick

My beef to pick is as follows…

I have noticed over the course of the past 7 years as a real estate investor that the majority of people that attend Real Estate Investment Workshops do so as if they were on a ‘social night out’!

Most people attending these workshops don’t take them seriously.  They don’t soak up all the information there is to offer at these events.  They attend meeting after meeting after meeting, but never end up taking any action and buying a rental property.

Even better, I have observed people who become members of several real estate investment groups.  Each of these groups could have a meeting once a month.  Therefore, there are people who are ‘new real estate investors’ who are attending several meetings each month, month after month and year after year, without taking any action…

A word of caution if you fit the profile of the ‘new real estate investor’ I described above…

Stop joining real estate investment groups!

Pick ONE group that you find is very valuable and stick to it.

One valuable real estate investment group is all that you need.

When you do attend these monthly sessions, take on a proactive role and not a reactive role.

Meaning, come prepared with questions that you would like to have answered.

Make it your goal to speak to experienced real estate investors during the session and get your questions answered!

If you are serious about getting started, don’t delay!

Join a quality real estate investment group and attend the meetings with your OWN agenda.  Get your questions answered and gain the support you need in order to help you take action and buy your first rental property.

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced real estate investor and Licensed Realtor.  I help people like you buy their first rental property.  If you are interested in purchasing Oakville real estate, Hamilton real estate or Toronto real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started !!  🙂

Tags: , , , , ,

Conservatism Never Hurt Anybody

Posted by neil on December 04, 2012
General / No Comments

Hi Friend,

I hope you are doing well.

I always enjoying meeting with experienced real estate investors, because I always learn a lot from them.

During a meeting I had recently with a very experienced real estate investor (40+ years of investing in real estate) , one quote stuck out in my mind from our conversation more than any other.

The quote he said to me was…

“Conservatism never hurt anybody”

Here is the context of the conversation I was having with the experienced real estate investor, when he said this quote…

Context

We were discussing the real estate market in the Greater Toronto Area, and it’s performance over the past 12 years.  The experienced real estate investor was confirming that over the past 12 years, the market has performed exceptionally well.  Further to the market performing exceptionally well, he envisioned that the market would continue to do well, however, at a much more reasonable and historical rate of return, and no where near the record highs of the past 12 years.

The expert investor went on to conclude that if your given real estate market is performing at or above the cost of inflation, this is a very good thing in the long run, as this is all you need.

Many, many people, especially young real estate investors living in the Greater Toronto Area have become used to a real estate market in which prices rise at a rapid rate.  According to the experienced real estate investor, this is not reality, and a more balanced market where prices rise at a lower rate is much more sustainable.

We then spoke about markets in and around the Greater Toronto Area that have been performing at a much more balanced level.  These have been levels that have been equal to or just slightly above the cost of inflation.  He concluded that these types of real estate markets can be very beneficial to the long term real estate investor, as you are able to make money in these markets if you invest for the long term.

In Summary

“Conservatism never hurt anybody”

In my mind, this quote means, that you do not have to hit it rich when you buy your first rental property.  Take calculated risks that will benefit you.  Don’t take on too much risk.  If you do, you could lose everything.  After all, slow and steady wins the race…

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced Real Estate Investor and Licensed Realtor.  I help new real estate investors like yourself purchase your first rental property.  If you are buying Oakville real estate, Hamilton real estate, or Toronto real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started!!

 

Tags: , , , , ,

5 Reasons Why You Have Not Bought Your First Rental Property

Posted by neil on December 03, 2012
General / 2 Comments

Hi Friend,

I hope you are doing well.

If you are interested in buying your first rental property, and have not done so already, you will benefit by reading this post.

There may be many factors that are holding you back from buying your first rental property.

When I first started out as a real estate investor, it took me about one year of doing research and asking questions before I took the leap and bought my first rental property in Oakville, Ontario, Canada.

I have since gone to purchase Oakville real estate, Hamilton real estate and Toronto real estate.

In an effort to help shed some light on why you have not bought your first rental property yet, here are 5 reasons that are holding you back:

1) A Lack of Education

You may know a little about real estate investing, however you don’t know enough.  You read some blogs here and there, but that is where your education ends.  For most new real estate investors this is not enough.  You need to start to talk to people who own rental properties and learn about their experiences.  This action will push you over the edge, so that you feel comfortable enough to buy your first rental property.

2) You Are Not A Member Of Real Estate Investment Groups

Real Estate Investment Groups are the perfect place to meet people who own rental properties.  At these groups, you will find experienced real estate investors as well as real estate investors who have *just* purchased their first rental property.  It has been my observation that real estate investors attend these groups for support.  If you are to become a real estate investor, having support is essential.  You need to have people that you can go to, to ask advice on real estate matters.

If you are not a member of a real estate group, you need to join one.  If you live in the Greater Toronto Area, consider attending my monthly Real Estate Workshop called, Landlord Bootcamp For Beginners.

 3) You Do Not Know A Good Mortgage Broker or Mortgage Specialist

Financing is one of the most important topics that you need to understand when you are buying a rental property.  Everyone’s personal financial situations is different.  Depending on your situation, you may need to consult either a Mortgage Broker or a Mortgage Specialist. If you are in the Greater Toronto Area, the mortgage broker you should contact is Kevin Boughen and the Mortgage Specialist you should contact is Chester Yu.

 4) You Are Not Associating Yourself With the Right People

People are either positive or negative.  Which are you?  This is an important question to ask.  An equally important question to ask is, what about the people that you hang around with the most?  Are they positive or negative?  So, so, so many times I remember hearing advice from people who did NOT own any rental properties.  They would be giving me unsolicited advice on whether or not I should be buying a rental property.  Since you are a new real estate investor, it is important for you to associate yourself with positive people who have experience owning rental property.  Never take advice from someone who has NOT accomplished something that you are trying to achieve.

 5) You Are Not Working With An Investment Focussed Real Estate Agent

A very common questions that new real estate investors ask is, “How do I find a rental property?”  The best answer for this is, “Work with someone who knows where to find rental properties”.  Lots of new real estate investors struggle at the beginning trying to find properties that they think would be a ‘good rental property’.  The truth is that, most new real estate investors have no idea where to begin their search for rental properties.  It is always best to work with a real estate agent that understand rental properties, as well as the market that you are looking to purchase a property in.  Working with someone like this will help you in the long run as it will make the process less frustrating.  The process will be less frustrating because real estate agents with knowledge of rental properties know which types of properties are suitable investments.  Most importantly, they will know where EXACTLY you will be able to find these properties in your market that you have chosen to invest in.

In Summary

If you are a new real estate investor and you have not purchased your first rental property, these 5 factors may be holding you back.  If you put in some effort and work towards overcoming these factors, you will be able to buy your first rental property.

Stay focused and committed!  You can do it!

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced real estate investor and Licensed Realtor. I help new real estate investors like yourself purchase your first rental property.  If you are interested in buying Oakville real estate, Hamilton real estate, or Toronto real estate, send me an email at, NEIL@FIRSTRENTALPROPERTY.COM, and I will help you get stated!

Tags: , , , , , ,

How To Analyze A Rental Property

Posted by neil on December 02, 2012
General / No Comments

Hi Friend,

I hope that you are doing well.

One question that I often get asked by motivated, new real estate investors is:

“How do I analyze an investment property.”

When I was first starting out as a real estate ‘investor’, I did not know anything about how to analyze an investment property.  Things worked out for me as I ended up buying my first rental property in Oakville.  I went on to buy Oakville real estate, Toronto real estate and Hamilton real estate.

Analyzing a rental property can be as simple as you want to make it, or as complicated as you want to make it.

How To Make Things Complicated

Generally speaking, new real estate investors make, analyzing a rental property very complicated when they are not truly ready to take action.  There are always many, many reason as to why you should not take action and not buy a rental property.  After all, what happens if:

  • You can’t find good tenants?
  • The tenants don’t pay rent?
  • The furnace breaks down?
  • The air conditioner breaks down?
  • The hot water tank breaks down?
  • The property requires regular repairs and maintenance?

There will always be many reasons as to why you should NOT buy a rental property.

If you are not educated enough on the process of buying rental property, chances are that you will not take action.

Therefore, the analysis of a rental property becomes a mute point, because no matter what the numbers tell you, you will never feel comfortable enough to move forward and make the purchase of the rental property if you are not educated on the process.

How To Make Things Simple

Things become very easy for you as a new real estate investor when you:

  • Educate yourself, and
  • Simply look at the numbers

Educating Yourself

It is easy for new real estate investors like yourself to take action once you have educated yourself on the process of real estate investing.  The more educated you are, the better.  The less education you have obtained, the more difficult of  a time you will have with moving forward and making the purchase of a rental property.

Simply Look At The Numbers

Analyzing a rental property is very easy.  I will say again, analyzing a rental property is very easy.  People make the task of analyzing a rental property more  complicated than it actually is.  It is not complicated at all.

What you have to do is take a look at what the revenue and expenses.

You need to examine these figures on a month basis.

For example, if the total revenue (rent) for a rental property is $1,500/month, and the total expenses are $1,100/month, this means that the rental property has a positive cash flow of $400/month.

You get the ‘cash flow’ number by subtracting the revenue $1,500 from the expenses $1,100.  ($1,500 – $1,100 = $400)

There are always other factors to consider when purchasing a rental property.  For example, the location of the rental property is a big factor.  You can refer to these blog posts for further information on, how to pick the right location:

How To Buy A Rental Property In A Great Location

How To Buy A Rental Property In The Perfect Location

How To Buy A Rental Property In The Right Location

 In Summary

At the end of the day, analyzing a rental property is not complicated.  You need to simply take a look at the revenue and expenses of a given rental property.   You also need to remember to not over complicate things because analyzing a rental property is easy to do.  Make sure that you educate yourself regarding real estate investing, so that you are ready to take action when the right property comes along.

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember, I am an experienced real estate investor and Licensed Realtor.  I help new real estate investors like yourself purchase their first rental property!  If you are interested in purchasing Oakville real estate, Hamilton real estate or Toronto real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started!

 

 

Tags: , , , , ,

Rental Property Financing 101

Posted by neil on November 27, 2012
General / 1 Comment

Hi Friend,

I hope that you are doing well.

I get asked a lot of questions from new real estate investors who are looking to purchase their first rental property.

A question that I get asked on occasion is:

“How do I buy a rental property?”

When I was first starting out as a real estate investor over 7 years ago, I had a limited understanding of how to finance my first rental property.

With the knowledge that I have gained since then, I have gone on to purchase Oakville real estate, Hamilton real estate and Toronto real estate.  Most importantly, I have been able to successfully finance all of these purchases.

There are different methods in which you can finance a rental property.  However, the most important method in my opinion is the method in which you leverage your principal residence.

How to Leverage Your Principal Residence

Mortgage and financing rules are different depending upon which country you live in.  In Canada, you were once able to leverage your principal residence to 80% of the Loan To Value (LTV).

Let’s look at an example to help illustrate this point:

Example

You own a home and the value of that home is $500,000.

You have an existing first mortgage on the home in the amount of $100,000

If you take 80% of the value of your home, you get a figure of $400,000 ($500,000 * 80%)

This means that if you get your bank or lender to place a ‘secure line of credit’ on your home, you used to be able to get 80% of the LTV.

Meaning that the maximum ‘loan’ that your bank/lender would be willing to place on your home would be $400,000.

So now, if you place a secure line of credit on your home, the maximum amount here would be $400,000.

However, you must also remember that there is a $100,000 first mortgage on the property as well.

All this means is that you subtract $400,000 by $100,000, which equals $300,000.

$300,000 is the amount of a secure line of credit that you would be able to get.

*Note:  80% LTV used to be the guideline in Canada.  There have been recent mortgage rule changes implemented by the Federal Government which have changed this value*

What Does This Mean?

The bottom line as to what this means is that you now have $300,000 to invest in real estate.  This $300,000 can be used as a down payment towards your first, second or third rental property.

Once you have figured out where your down payment will be coming from (you just have), you then have to obtain a 1st mortgage for your rental property.

All things being equal, mortgage brokers in Canada are able to grant multiple mortgages to an individual.  The Big Five Banks in Canada, are limited as the the number of mortgages that they can issue to an individual.  Therefore, the mortgage broker industry often services real estate investors who are purchasing multiple properties.

In Summary

Lots of new real estate investors stress out as to where to find the money to buy a rental property.  For many of them that own a principal residence, chances are is that your potential down payment was sitting there all along.  You just need to know how to uncover it, by properly leveraging your principal residence.

Happy Investing!

Neil Uttamsingh

ps: Remember!  I am an experienced real estate investor and Licensed Realtor.  I help new real estate investors like you purchase your first rental property.  If you are looking to purchase Oakville real estate, Hamilton real estate or Toronto real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM and I will help you get started!

 

Tags: , , , , ,

Deal Of The Week

Posted by neil on November 27, 2012
General / No Comments

Hi Friend,

I hope you are doing well.

I am constantly asked by new real estate investors to:

“keep them in mind”

If I come across any…

“good deals”

Well this is one of those times.

For those of you that have asked me to “keep you in mind”, I am returning the favour.

Below are some details in regards to an investment opportunity in Toronto.  If you live in Toronto, or live in other parts of the world and are looking to invest in Toronto real estate, consider this opportunity.

If you are looking to buy your first rental property, and have the funds to invests, this option might be right for you.

As an experienced real estate investors and  Licensed Realtor, (with connections I might add), I have access to pre-construction condo units that are selling below market value.  Key word here is… below market value.

If any of the details below interest you, send me a message at NEIL@FIRSTRENTALPROPERTY.COM for further details.

Here are the details below:

 

A One Night Only VIP Condo Event you will not want to miss!
Live Mortgage Free for a Year*

INVESTORS
EARN 16.6% RETURN PER YEAR*

One Night Only This Thursday November 29th at 7pm

 

The Royal Suites of King West Village

 

 

VIP Prices from $241,900

 

Own or Invest with Positive Cash Flow from Day One!

 

It’s Downtown’s Hottest and most Desirable area. King West Village is filled with critically acclaimed restaurants, spectacular night life and the TTC out your door step. Located between Bathurst and Spadina, King West Village runs to the North and South sides of King St. It’s where the action never stops!

 

7PM Sharp

 

Thursday November 29th, 2012

 

One Day Only

Priority Registration

 

111 Bathurst Street, Toronto M5V 2R1

(corner of Bathurst and Adelaide)

To Register reply to: NEIL@FIRSTRENTALPROPERTY.COM

Happy Investing!

Best Regards,

Neil Uttamsingh

ps: Remember!  I am an experienced real estate investor and Licensed Realtor.  If you are looking to buy your first rental property and would like to buy Oakville real estate, Hamilton real estate or Toronto real estate, send me an email at NEIL@FIRSTRENTALPROPERTY.COM, and I will get you started in the right direction…

Tags: , , , , ,

« Previous Page Next Page »