Messages

1

General / Re: Buy through a corporation!

« on: May 18, 2007, 12:33:13 PM »

The bext thing for anyone looking to make money on flipping properties in canada is to create a US corporation. I opened up a Florida LLC. LLC's in the states pay 0% corporate tax and are taxed through the owners. Florida does not have any personal state tax, you only pay Federal. which is dirt cheap. Open up the FLorida LLC, purchase the land or property in Canada under the Florida LLC and offer private Owner Financing when selling. I'm sure revenue canada will be knocking on my door in about 30 years, but until then, they can stick it where the sun dont shine.

2

General / Re: Has anyone heard of "H.M.Dignam Corp"?

« on: May 18, 2007, 12:22:24 PM »

I heard of Dignam a few months ago and immediately purchased their catalogue subscription. I found a great deal on a lot in Northern Ontario for $8,000.00 and flipped it within 3 weeks for $16,000. Local real estate agents were selling it for around $15,000... since then, I haven't found any properties in their catalogue significantly lower then market value, I guess it was a one time thing. Most of their lots are overpriced. The only advantage in purchasing property from them is their owner financing, it's easy on the wallet. They do not disclose any important information regarding the lots so be sure to do all your research prior. The contract they send out is pretty mediocre compared to other owner financing contracts I've had. I recently purchased a lot in Florida from a company www.UnitedLandSales.com and the contracts they provide are more detailed with regards to what you can and cannot do with the property while financing. They also provide land disclosure statements.

I will purchase again from Dignam when a good deal comes along. I'm not one to attend Tax Sales, I always buy on owner financing, keeps more up front cash in the pocket.