Toronto Condos Return Profit on Investment

Tell me again about the ACTUAL Rate of Return in Toronto condo and real estate market.  By leveraging your 20% or 30% down you can have a return on your entire portfolio value.

Where would you like to put your investment in the GTA's continuing real estate market? 

Just be careful what you buy...   http://www.buyinginToronto.ca  Get informed advice. 

Maybe you would like to conduct your own search. http://homeswesttoronto.tumblr.com/mobile

How can I help you?  416 233 9000

Never (Ever!) Offer a Distressed Seller This…

You have all seen the flyers  left on someone's door explaining that (he) was a real estate investor, could buy his house, pay cash and close quickly. Unimaginative, I know, but effective.

Jack was behind on his mortgage and needed help, Quickly. The POWER OF SALE Eviction date was less than a week away. I knew this because, desperate and out of options, he called after finding the bright yellow letter.

I was a little nervous to meet with him. After all, Jack had over $80,000 in equity in his home. He had procrastinated in dealing with his situation for so long but with careful negotiation he could score himself a home run.

As we sat at his kitchen table, Jack described his financial situation. He was disabled from a previous job and living off the insurance. Some unexpected expenses came up and he couldn't pay his mortgage. He got behind and just couldn't seem to catch up. Sad, but not uncommon. I’d heard many stories like his before. I listened carefully and told him I understood.

There are still some options even at this stage;  Legal involvement in your situation, refinancing your program and getting you on your feet or simply to move out.

Controlling your own sale permits you the option of redemption until the Banks Sale goes through. Your mortgage holder will be reimbursed in this order

• The Condo Maintenance Fees
• Municipal Property Taxes
• Lawyers fees
• Sale Expenses
• Interest Expenses
• Then the balance is paid to principal

Now you are responsible for the deficiency (remaining) balance. That's what power of sale means. The Power of Sale Demand Notice is for both possession and the balance outstanding. In Canada when a property is foreclosed upon a Lender takes control of the Asset ( It now becomes their asset ) 

Veronica Thompson is a licensed Mortgage Broker providing First and Second Mortgages, Refinance approvals plus We can provide solutions to your money problems quickly. Some of the issues we have dealt with are helping you create household budgets, consolidations and refinancing.

There are many reasons why you need mortgage or credit assistance; we've heard most of them, so don't hesitate, give us a call             416-410-1150        or send me an email.
Veronica Thompson, a Mortgage Agent with Mortgage Alliance Accumetrix (License #12036) concentrating her efforts in the Toronto GTA that includes Mississauga, Brampton and Oakville. Ask a question or Get Help Here.

100 Most influential Realtors on Twitter

 Stefan Swanepoel published a list of 100 influential and interesting people within real estate. It’s an interesting list and got a few of us (myself included) a bunch more followers.

However, set aside for a minute that he missed a whole bunch of influential people (which he is already revising) the reality is that a lot of people on his list just aren’t that interesting (and many border on being twitter spammers).   If you’re a real estate professional new to twitter and you started following some of those people, I can only imagine twitter would start looking like a big wasteland of crappy tweets.

However, I think a list of influential people could be a really good thing, especially for people new to twitter…  I’ve had this idea for measuring “twitter influence” within a community, and Stefan’s project finally pushed me to build a prototype.   The idea is to measure, as objectively as possible, the influential people within a twitter community.  http://dustinluther.com/2009/09/50-most-influential-real-estate-people-on-twitterter/

So what is the criteria I asked myself;

• Google Page Ranking?
• Engagement?
• The Number of Social Media Events I attend? 

Although I have been published on Huffington Post, the CBC, and Tech Vibes  I haven't  made the list. Real estate sales is about people who do business with you, if they like, know and trust you. Post your reviews... be seen. Etobicoke - Toronto. The real deal with a real office in a virtual world of realtors.  Let me show you what I can do. Toronto / Etobicoke. 

http://www.Facebook.com/dpylyp

http://www.Twitter.com/davidpylyp

http://www.SellinginToronto.ca

https://plus.google.com/u/0/109283965469179719942/about 

Sorry that you were misrepresented on that Rent to Own

Was it presented to you as a good deal? 

This Rent to Own program that gains favour from time to time.  I ranted about this extensively during the 2008 Credit Crisis when all the North American markets CLENCHED shut for about 6 months into January of 2009 when [Obama] the AMERICAN GOVERNMENT released the Bail out Money. People  will try to take advantage of others misfortune.

http://eleganthomesinwesttoronto.blogspot.ca/2008/09/lease-to-own-housing-plan-leaves.html

Those very same factors are in play right now in Ontario [the Toronto west GTA] with Tightening Credit Criteria from CHMC, shortened amortizations and stricter verification to qualify for a mortgage processes.

This program is especially appealing to those who have strong cash flow but less than stellar credit.   It has value in the fact that you can afford a "DEPOSIT" in addition to the First and Last Month's rent on the Rental, and Money will be added to your deposit on a monthly basis at $200 or $300 from the over inflated amount paid.  Well thats the way you planned it and understood it to be.

This contract usually has a fixed selling price for a future date or an OPTION to Purchase.  These must be clearly spelled out in the contract.  If the market adjusts; you need to have an out, but what about the payments you have already made, Will you get those back? WHO will finance an over priced purchased because you have a fixed closing date?

Risky Business
Toronto real estate lawyer Bob Aaron said all sellers take that risk, when they sign up for rent to own.
“There’s a fringe of investors all over the country who make money teaching courses and putting buyers and sellers together with rent to own,” said Aaron. “The biggest problem is: how do you get rid of a bum [tenant]?”
Real estate professionals said tenants also risk losing the money they put toward a purchase. http://www.cbc.ca/news/canada/british-columbia/story/2013/02/08/bc-renttoown.html
“There’s no accountability with this kind of system,” said Samantha Gale of the Mortgage Brokers Association of B.C. “You don’t have some kind of standards which are adhered to and you don’t have any kind of recourse.”Because operators like Burnett are not licensed or regulated, when deals go south, consumers have no recourse but to launch court battles.

The article points out potential pitfalls from the unsuccessful negotiation of a "deal".  I work with a Credit Repair Counsellor [Veronica Thompson] who is also a licensed Mortgage Broker to interview and help prospective purchasers secure a property.

If you are not dealing with the underlying issues that make you candidate for Rent to Own, a lack of financial records, low credit score,  poor job stability or divorce...   what makes you think that in 5 years your credit will be better to instantly qualify for a mortgage based on a future value.

Have you ever changed your mind after a few years?

What do you think?   Is rent to own your only option?

De-Clutter Organise and Re Purpose what you have

Getting more money for your home is possible. Would you like to know how?



Our Team of professionals can help you Organise and de-clutter to make your home feel larger.

By using your own furnishing we can re-purpose many things in your home to make it look warm, fresh and inviting. Would you like to know more?

Talk to your local Toronto real estate professional now.

David Pylyp Group
416 233 9000

Park Lake Residences Toronto

Your Pied a Terre in the City.

A newly built and Freshly Painted Two bedroom Suite with two spacious bathroom at the luxurious Park Lake Residences, located at Lake Shore and Ellis Ave., right at Sunny side Beach.

This building is a two tower structure with a centre podium that houses an open air terrace for BBQ's and Lounging.  Sight lines are to Humber Bay Shore, the bay, The Humber River Bridge, The North Views include dramatic vista for High Park. There is a strong management team in place here with a Large Reserve in compliance with Reserve Fund Audit compliance.   All parking is above grade with 4 levels for resident garage parking and a main floor open air garage for visitors.

The access to transit is fed from the #80 #TTC Queensway Bus to Keele Subway, a Lake Shore EXPRESS #508 bus to Union Station and a 24 hour transit line alone Queensway / Queen Street ensures prompt and continuous access.

UPGRADES include  Hardwood Floors, Stainless Steele Hardware and Stainless Steel Appliances, Fridge, Stove, Microwave, Built in Dishwasher PLUS Stackable Washer and Dryer.   Kitchen has a Granite Counter top, under mounted Cupboard lighting and a subway tile ceramic back splash.  All existing window coverings remain with the property. Bathrooms include marble wall trim, floors and upgraded plumbing.

This Suite measure 860 square feet as per the builders floor plan. (Available)



Additional Property Details
http://davidpylyp.com/search/feature.cfm?ml_num=W2551722

Virtual Tour on Property
http://www.youtube.com/watch?v=gwaI5mCTiw4&feature=youtu.be

Additional Property Pictures
https://picasaweb.google.com/109283965469179719942/February4201303#slideshow/5841275256762724242

Realtor.ca Search W2551722

Showcased Property Brochure
http://www.scribd.com/doc/125313225/Park-Lake-603

This property is available for showings and occupancy Effective Feb 05th, 2013

Contact David Pylyp
Accredited Senior Agent
RE/MAX Realty Specialists Inc., 

416 233 9000

or direct at 
647 218 2414

Have you taken the Better way recently?

Took the subway downtown recently to an event at the Metro Convention Center.  Subway stations were as I remembered them.  The crowds at 7 PM on a week night were not.  Rush hours now seem to start earlier and end later.   Transit relief lines are needed.   Subways need to be extended in all directions into the 905.  That include Peel, Durham, and North to  Markham.

Are you convinced that new revenues are required?

YesNoNot Sure

After you have completed the survey [ I didn't see SELECT subways ]   the conclusion asks are you willing to pay more??

Take the survey http://www.feelingcongested.ca/#have-your-say

It would appear to me that instead of taking action going forward on the decades of studies we already have;  there will be more public input on what we want.  What we want is less waste and lower taxes that are efficiently spent. 

I read thru and the conclusion asks very specifically are you now convinced that we need to pay more to fund our transit systems?  Are we ready to PAY more in Tolls and Taxes?

Our climate suggests that as roads get clogged with ice, snow, deliveries, double parkers, more condo buildings, fewer parking lots, more jobs in the city that we take a serious look at building underground. Real Estate sales Growth, net migration to Toronto for education, jobs, safe haven and family will push us to 6.0 Million inhabitants in the GTA in my lifetime.

Metrolinx is proposing a regional Transit Authority to move people better in the amalgamated GTA. Maybe its time has come.   I [taxpayers] have no more money for cost over runs and additional YEARS of construction delays and traffic frustration is costing business BILLIONS!

What are your thoughts?

We all live in this [World Class] City