Messages

1

General / Re: Western New York

« on: August 01, 2009, 09:57:16 AM »

as an investor i always believe and know that money can be made anywhere, anytime, all that is required is - an eye of an investor, there is usually said that there are 4 types of people in the world, employes, small business owners, business owners and investors.

which one do you like to be, both have their pros and cons.

investors get to keep the lowest share of the pie ( after giving to the other three, yet they  are the richest of the four, just some thought to think about).

2

General / Re: What cities or regions are you looking for a tax sale property in?

« on: August 01, 2009, 09:40:59 AM »

Since i am an investor rather than a trader, so any place where i can find something good is ok.

i just see if -

what is the cost of holding the property
what is the cost of getting rid of property ( IF i have to)
what is the return on investment on a monthly basis, and if the return is monthly, or once in a while type thing.
what is the cash flow of the property.
how do i make a profit, by selling it or renting it.

3

Member Experiences / Re: What to do?

« on: July 05, 2009, 05:29:37 AM »

don't worry you will get your money back,

if you dont' do in 3 months, you get interest that is like 2-3 points more than the prime interest, so i think it is safe.

4

General / Re: Bidding Irregularities

« on: July 05, 2009, 05:24:07 AM »

Unfortunately this is the reality of dealing with the people, you can never trust them, still you always have to deal with them, that's called living in society i guess..


you can although read this forum and look at the step by step procedure of buying a tax property,

always make sure, you know what is the worth of the property,you are paying for what, after the payment to the state, what do you owe and to whom.

just a suggestion though

5

Canadian Tax Sales / Re: Question for Tax Sale Auction Winners......

« on: July 05, 2009, 05:16:39 AM »

yes it will be a prime plus 2-3 points interest however you also have to consider the cost of bidding as well which usually runs in like 300-1000$ depending on the property and how much research you do, also consider the investment of your time.

I think i will stay away from these type of auctions.

6

Alberta Tax Sale Properties / Re: Hi, I'm a newbie and don't know much>

« on: July 05, 2009, 05:11:22 AM »

Owner cannot get the property back from you in anyway, except for buying it from you and paying a premium.


when bidding for a property,always make sure you look at the property physically first, as i have seen so many problems which are not seen in a picture.

you will be surprised what you can find, of value or problems

7

Member Experiences / Re: Private deal

« on: July 05, 2009, 04:58:40 AM »

Of course, you are supposed to keep your mouth shut in deals like these.

the more you talk, the more people start to get involve, and more then once in a while someone else makes the money off the deal you find.

It's always like that,

the best deals are the ones which no one knows, until the title has been transferred. you make tons of money in the deals no one knows about and pennies in which everyone knows about.

8

Questions and Answers / Re: Tax Sale Question for the Province of Ontario Canada

« on: July 05, 2009, 04:51:44 AM »

well the meaning in plain english according to me is - if there is anyone on the property, then it is your problem to get him vacated, the seller ( county/municipal etc)  will not get it vacated for you and give you posession, seller will only give you a clear legal standing that you are the legal owner of the property.

9

Questions and Answers / Re: Bid attendance

« on: July 05, 2009, 04:43:08 AM »

It's not illegal if you are not in a particular sale however it is always advisable that you do , because sometimes you get to see some real values in that particular property which you might not have noticed earlier.

or some problems for that matter.

10

Questions and Answers / Re: Selling Land

« on: July 05, 2009, 04:36:53 AM »

It is a great system..you used to be able to do it without a lawyer..  then a couple of Toronto LAWYERS  get caught performing mortgage scams..
So to prevent mortgage scams by bent lawyers , queens park  ( almost all lawyers) changes the law so now we have to have two lawyers in the deal ( not 1 ..but two lawyers ) and your costs get stupid... makes sense to me
 ....catch lawyers stealing so 2 years ago Ontario hands them the keys to the bank..
And since it is white collar crime ..you get a fine ..not jail time ..      Canada  steal a purse get two years.......steal the life savings..get nothing

sadly this is one of those things which makes me think on the law.

anyways, i do agree that having a couple of professionals is always good, even if you have to pay them a bit, in the long term they more than pay themselves up by making sure you dont' get any in problems in the long term.

11

General / Re: What cities or regions are you looking for a tax sale property in?

« on: July 05, 2009, 04:20:45 AM »

i doubt i care for where the properties is, all i care about is the investment ( timevise) and return on investment ( money vise)

if i can get  a property like that, i am happy to buy anything anywhere.

12

General / Re: Are tax sales still worth it?

« on: July 05, 2009, 04:17:15 AM »

Well if 3 trains blazed in 1.5 hours with their horns blazing i doubt there is any value there, neither a holiday home nor a retail investment, the best i can think of is some sort of a nature habitat where birdwatchers etc can camp etc.