Day: February 26, 2009

I just helped someone purchase a fully updated condo (Hardwood, forces air furnace, new ceramic and kitchen and many more) in a desirable part of town. Get this – the mortgage is under $700 a month!  -$660 I think it was! You know how much the rental rates in this area go for a unit like this? About $1200!!! Sound to good to be true? Well… it ALMOST is.. Condo fees are $210 a month – so about $870 a month cost, $1200 a month revenue.

Its a THREE BEDROOM, TWO BATHROOM – FULLY updated.  And I dont mean a ‘lipstick’ update – I mean organ transplant update. This new owner can afford to be picky with her tenants because the quality of the unit commands a quality tenant. There is $ value to the pride someone will pay to move into this kind of quality.

RATES ARE AT HISTORICAL LOWS. Find me on Facebook and accept my invitation to the Bank of Canada’s rate announcement on March 3rd, and I will email you the newest low rates and give you a QUICK example of what a mortgage payment would be on a unit. I guarantee you wont believe it.

Contact me and to find out how you can OWN something GREAT for LESS than what RENT is!  You can upgrade your life or even stay where you are, and rent this out for CASH every month! Sign a one year lease and guarantee yourself positive cash flow for a year!

I know you’ve heard about people doing it, well you need to BECOME ONE OF THOSE PEOPLE!

Ask me how I CAN MAKE IT HAPPEN FOR YOU.

mevans@partnersadvantage.ca 

P.S. Know anyone that needs to rent a beautiful 3 bedroom unit for $1200 a month? I hear thats what people are paying for this kind of unit in this part of town. Too bad for them – but some people dont listen to good advice when they hear it.

Here is a quick example of my fiancé’s Real Estate experience in buying her first condo.

She went to a lender to get pre-approved. The lender evaluated her current debt obligations, cash flow and savings and gave her a maximum mortgage amount and rate that she would be guaranteed for 90 days.

With that, I looked at desireable areas and housing that fit her affordable range.

We went and saw a few units, and chose one.

We submitted a CONDITIONAL offer, that was conditional upon us getting financing (even though we know we had it), an Inspection of the property (to make sure it is in good working order), on obtaining insurance (to make sure we are protected), and on our approval of the status certificate of the condo corporation (legal standing of corporation).

We went back and forth twice about the price (negotiations).

We had a DEAL!! – gving us a week or two to have our conditions waived or fulfilled.

We got the financing , we got a satisfactory inspection, we got insurance  and we were satisfied with the status certificate.

 We fulfilled all conditions!  The deal is now UNCONDITIONAL and we are ready to move in on Friday the 27th of February!

As you can see – the process of getting pre-approved is crucial – it gives us our working range. The conditions are put in place to protect the buyer and make sure they are in a strong position upon taking possession. The price was negotiated to an acceptable amount (we got it for a few thousand under what we think it was worth!!) The dates were all coordinated and facilitated by me.

I got the financing arranged (suggested lenders and helped her organize and communicate), I organized, attended and explained the inspection , explained the status certificate, and I arranged all the phone numbers and details for a great insurance rate!

Now she has a FREEHOLD condominium (completely separate and un-attached like a regular house), with a fully enclosed and BIG backyard, 3 bedrooms, a basement, ready to move in for less than an average one bedroom would cost to rent in most parts of town.

See how the process works? See the Value of a REALTOR?