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Tiny Tip for Massive Results When Raising Money for Your Deals
Happy Monday!!
It’s a big week around our office because we’re now full steam ahead working on our latest acquisition: an old character home renovation project.
We took possession on Wednesday and we’ve already ripped off four layers of roofing, pulled out the toilets, tubs and started repairing the floors. Over the next couple of months we’re going to change out the stucco for some brightly coloured HardiePlank siding, rip down the ugly rat caves (old garage and sheds), and give this home a whole new look. We’ll be putting it into our rental pool while we evaluate all the options for the lot (because the highest and best use of this particular lot is not a single family home).
Read more on Tiny Tip for Massive Results When Raising Money for Your Deals…
Pushing the Private Money Buttons
by Julie Broad
We just received the LONG OVERDUE quote on the cost to excavate that pesky tree that has grown up through our basement and out the window of our Toronto tri-plex and I have to say that I am crapping my pants (And not in a good way Ms. Steph Davis). The quote came in at $20,000. This does not, as far as we can tell, include the cost of a new window or the other important things like a new wall and fixed flooring that would once again make that room habitable for our tenants. 
Yes … the words that come to mind are not for this family show.
So … let’s not dwell on that … instead let’s move on to talking about how we’ll probably pay for this mess … I’d love to tell you that we have a giant bank account full of cash that we’ll just use to cover the cost but the reality is that every time we end up with a big chunk of change we invest it in a new property. We like to send our money out into the world to make more money. It’s why all our tenants have larger TV’s than we do … but that is a topic for another day.
The Nuts N Bolts of Holding VTBs
by Dave Peniuk
If someone were to ask me what the toughest part of 2009 was I wouldn’t hesitate in saying it was finding financing for our real estate investments. We’ve spent a lot of time lately talking about private money as one of the solutions to the credit crunch, but it’s been awhile since we mentioned our preferred source of funds in many cases and that is a nice VTB! And for a change of pace I thought I would write about it from the perspective of a seller … because there are many advantages to offering a VTB to a buyer of your property and as a real estate investor you should not only understand why you should almost always want to ask if the vendor will finance a portion of your property, but why you may want to offer a VTB on a property you’re selling!
