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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
