Guest Daryl Report post Posted December 27, 2002 Hi there, I have been looking through your site, as well as many others, and am extremely eager to get started in real estate investing. I have read about half a dozen books in the past 6 months and have attended a couple of seminars looking for information. My question is, I live in Canada, and most of the information always pertains to US and US law. Now, I suspect the laws arent much different here but can you refer me to anywhere or supply me with information which may help answer my question?? Thanks-a-lot! Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 28, 2002 Daryl, you are right in not assuming that what is legal and proper in the US, would also be so in Canada. You'd be surprised at the differences in real estate law between states, let alone two different countries. That said, I am not personally familiar with the specifics of Canadian law. Perhaps someone will come along and know more than we do, (I know, I know, it's a new board, and it's kind of quiet right now. That'll change Spread the word, amigo!).In the meantime, perhaps these sites can provide you with some information, or point you in the right direction: http://www.duhaime.org/Real-estate/cabcreal.htmhttp://www.canadalegal.comhttp://www.realestate-canada.com/services.htmlhttp://www.law-lib.utoronto.ca/resources/t...ic/property.htmhttp://www.actualhomes.com/canada/links/Re...te_Lawyers.html Daryl, hopefully this helps and gets you started. In the meantime, come back, register, and become a regular. If you have any additional questions we can help you with, just ask. And let us know if these links helped any. Share this post Link to post Share on other sites
Guest Daryl Report post Posted December 28, 2002 Hi again, Thanks alot for your help. I will look forward to registering (I will following this reply) and supplying feedback to other "Canucks" that may visit here. I have met numerous other real estate investors in this country and I really dont think there is too much different about buying property "creatively" in this country as there is in the US. Maybe there is if you get down to the nitty gritty of the LAW, but hey, isnt that what legal counsel is for ? Anyway, I have noticed that you focus on lease optioning...ya, I know, pretty perceptive huh ? I was just wondering why you think that shows the biggest advantage for you ? I have not run into too many others that deal property this way, but initially I found it to be very interesting. looking forward to future discussions. Cheers! Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted December 28, 2002 Hi Daryl: Read your post. I'll keep my ears tuned and see if I can help you. I work with a couple of Canadian teachers here in South Korea and from what little they told me, it doesnt sound like doing l/o's in Canada would be much different than in the U.S. But please be aware that I'm a newbie to investing so please do your "due dilligence" We are on vacation until Jan. 6th so I'll try to find out more then. Best wishes and stay in touch on this message board! Sincerely, Andrew Share this post Link to post Share on other sites
MichaelC 160 Report post Posted December 28, 2002 Daryl, my focus on lease purchasing is because, for me, it is a good fit. I started out the "traditional" way. Buying with conventional financing, fixing, making payments while fixing, tenants and toilets, etc. I figured there had to be a better way. That way turned out to be lease purchasing. I can get into all the reasons why here, but it would become lengthy. If you haven't already done so you can read about what I call The Lease Purchase Advantage on my website. This will hit on the highlights for you. If you still have some questions or want more specifics, let me know. Share this post Link to post Share on other sites
Guest Daryl Report post Posted December 29, 2002 Much appreciated Andrew and Micheal. I will visit here often, it's a nice site, and will wait to hear anything further. Share this post Link to post Share on other sites
Andrew Ikeda 0 Report post Posted January 8, 2003 Hello Daryl: Well I talked to the Canadians that Iwork with but they dont know much about real estate. Ironically, one of the teachers' mother is an accountant and owns some r.e. as a means of making some 'pocket money' (REALLY!) but she herself didnt know anything in this regards, only that her mother hates dealing with the tennants! It's hard for me to believe that some 'educated' people dont fully realize the potential of r.e...but anyways.. Sorry I cant help in this regard. However, I was going to ask you if you checked in the yellow pages of your phone directory for any r.e. investing clubs? How about the newspaper? Sorry if is sounds redundant but I'm just taking a shot in the dark that perhaps, maybe by chance, you overlooked these possibilities. In any case, I wish you the best of luck and keep us posted so we can inform others in Canada. Sincerely, Andrew Share this post Link to post Share on other sites
YoungShark 0 Report post Posted January 14, 2003 Daryl, I am a young Canadian as well, I am also getting into real estate investing, just getting my knowledge to par right now, I am 18 and really looking forward to making my first deal in my year of being 19. We will talk more. This site is looking like it might grow up well. -adam Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 14, 2003 Hello, Adam, and welcome to The Naked Investor. Delighted to have you as a new member, and I hope you spend some time with us here.You mentioned this site looks like it might be poised for a nice growth spurt. We certainly are aiming for that, too. We are receiving new registrants on the board daily, and it's folks like you who are contributing to that growth.It's worth repeating: this site is all about learning, sharing, having fun in the process, and doing deals. That's the bottom line here. Hope we hear from you often. Share this post Link to post Share on other sites
Bermudabay 0 Report post Posted January 24, 2003 Hi Guys, I'm also a Canadian, Toronto actually. Been surfing the net and getting as much info as possible. I've got a meeting with a realestate agent (family friend) next week to get some answers to many questions. Will fill you all in when I hear from him.Cheers, Brian Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 24, 2003 Hey, with all the boys from the Great North hangin' here, how come I haven't received any maple syrup yet? Share this post Link to post Share on other sites
Bermudabay 0 Report post Posted January 24, 2003 Mike.....by looking at the time you posted the last comment, what time do you go to bed?? Share this post Link to post Share on other sites
MichaelC 160 Report post Posted January 25, 2003 I think my previous reply was at around 1:00PM, not AM. As for what time I go to bed, well, I'm married. So, the answer is long after my wife does....... I'm part Al Bundy. Share this post Link to post Share on other sites