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singh

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About singh

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    canada
  1. Thanks guys for the input. I am not going to sign anything with the Realtor but until I am able to learn my market I might need to rely one. So I might approach a few so I don't bother the same one all the time. I think I will get the forms looked at by a lawyer just to be safe. It looks like Rahul is over by Doug (Ontario) and I am in Alberta. I'm not sure about a online service for re data, I will look in to this as I would gladly pay. And I did find a free lawyer referral service.
  2. Hello everybody, Just another lurker ready to come out of the woodwork. I have been absorbing the information in the forums for a month now and am ready to start putting it into action. I really enjoy this forum and enjoy the different people who frequent it. Thank you Doug for turning me on to this site and thank you Michael for the warm welcome and the manual. So to get over my paralysis of analysis I decided to just do it. I started cold calling fsbo's. I didn't call but 10 people before a man said he would be interested to RTO. I was so excited I just got his name and cell phone number and told him I would drive by the place then hung up. He has 2-3 properties and seemed open to the idea of renting them to own. I am in shock. I didn't know what to do next. So after a few deep breaths I thought i would need comps. I called my Realtor contact only to find out she was out of town until sometime in January! So my next step was to call a Realtor who I approached a few months ago when I was trying to build up my network. I asked her if she would be interested in doing something outside of the box. She asked "like what"? So I told her I was contacting fsbo's and needed to get comps to know if the houses were priced fairly. I told her I would give her $500 per comp that led to a sale. Then she tried to pull me back inside the box. She started with the whole the seller pays the Realtor fees and $500 is not a lot and yada yada yada. But I explained to her that in one way or another that I would eventually be paying her fee and as a novice investor I just couldn't afford something like that. Anyways I gave her the address of the place and the asking price and she said she would run the comps for me. Then I instantly regretted giving her that info. What if she tries to flip my fsbo owner to her side? What if she contacts him and mucks it all up for me? Well Nothing I can do now but hope and wait. She called back 5 min later and suggested I sign a contract with her so her interests would be protected. She suggested $100 per comp sale or no sale. I told her that I could only pay her if I get paid. $100 per comp is ridiculous. So she said we can work out the details of our partnership later and that she would do the comps for that house for now. WOW are all Realtors that slick. I feel nervous and excited at the same time. So many things running through my mind. I haven't even got my forms looked over by a lawyer to make sure they are good for Canada and my province.(just got the manual a few days ago) I did contact one but he wants me to come after the new year. I think I will contact another one. Also he is going to charge $75 per 1/2 hour. Is that normal? high/low? Should I get all the contracts looked at because I don't know which ones I will need? I which case it will be more that 1/2 an hour. My head hurts, he he he. Singh
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