The reason they're up here in Canada with that deal is they ran out of rubes in the US to sell that deal to. There are potential huge down sides (suddenly owning a house with liens and mortgages still attached). Do a lot of research online before writing a check. You might be on the hook for a lot more cash than your investment.
US foreclosed homes - an investment?
My buddy went to a seminar in Toronto last month - and it is coming around again.
He's very set on real estate as investments - which I don't normally subscribe to - they are illiquid, there are many transaction costs, etc etc.
So - the pitch from Pinnacle Property Solutions (based in the US) is that they have a pool of bank-foreclosed homes bought at auction - they will resell them to you for different process, based on condition ... and for Canadians, there is an add-on package that deals with administration, title issues, THEN advertising to find renters ... and eventual sale.
Given the huge gap between the 'wholesale' price (nominal $21K American buy-in) and the represented average selling prices ($50K+) ... this seems like it might be a good opportunity.
It's not often we see a house price so low, eh?
Would love to get back some of the lost paper-money in my portfolio of late.
BUT - concerns about property management, title actually clearing ...???
Just askin'
Worth a visit to North York?
A link to the outfit bringing them to Canada;
www.normandhaas.com/pinnacle
Their main site (a bit opaque) www.pps-reo.com
He's very set on real estate as investments - which I don't normally subscribe to - they are illiquid, there are many transaction costs, etc etc.
So - the pitch from Pinnacle Property Solutions (based in the US) is that they have a pool of bank-foreclosed homes bought at auction - they will resell them to you for different process, based on condition ... and for Canadians, there is an add-on package that deals with administration, title issues, THEN advertising to find renters ... and eventual sale.
Given the huge gap between the 'wholesale' price (nominal $21K American buy-in) and the represented average selling prices ($50K+) ... this seems like it might be a good opportunity.
It's not often we see a house price so low, eh?
Would love to get back some of the lost paper-money in my portfolio of late.
BUT - concerns about property management, title actually clearing ...???
Just askin'
Worth a visit to North York?
A link to the outfit bringing them to Canada;
www.normandhaas.com/pinnacle
Their main site (a bit opaque) www.pps-reo.com
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