doug
Active Member
Then why do you keep soliciting clients? You're confused aren't you?
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Investment Property, wait or buy?
- Thread starter Flux Capacitor
- Start date
Then why do you keep soliciting clients? You're confused aren't you?
PatP
New Member
So cityplaceguy you have yet to message me? Please contact me as I need a professional realtor like yourself.
Ric
Active Member
You guys are cracking me up. 
cityplaceguy
Active Member
Also want to add my office mortgege rep says maybe rates will be going up so you should lock in them now, if you need and dont get approved we can help you with that, we provide you with all the documentations, work letter, references, stated income etc for a fee if not approved. Also looking to sell, buy, lease, rent, investment, cottage etc etc MSG me I am the best!!!
Forget the rest come to me to get the best!
Forget the rest come to me to get the best!
Bloor West Villager
Active Member
How does that work? Would I not have to provide that documentation to apply anyway? What would you provide that's different - fake numbers?
cityplaceguy
Active Member
Yes you need documentations, but if you dont have or make not enough to qualify I know a guy who can provide you with some for a fee to help you get approved. This is a loophole and they charge a fee depending on amount/ types of document needed anywhere from 2k and up. I know many people this the only way so they dont have choice. Also the interests rates may be higher.
Forget the rest get the best! Home ownership is a big resposibility you need a professional!
cityplaceguy
Active Member
Also FYI before some people start bashing me, I am not doing this stuff (false documentations) etc but we all now there are peoples out there who do this. Most Realtors have been approached by these guys they now who they are, and some send there clients to these guys or the deal not go through =no commisions.
Bloor West Villager
Active Member
Oh no, not the commissions! The HORROR!!!
I guess a little mortgage fraud is okay if that means everyone gets to keep their commissions....
AMB
New Member
This is mortgage fraud nothing more, the rules for qualifying are in place not only to protect the lenders but also the borrowers as well as the market in general. Once we start bending or looking for loopholes (in other words fraud) we can end up with a housing crisis similar to the U.S, there are regulations and laws in place for a reason. You being a so called professional should be reporting these people not adding fuel to the fire. I'm surprised you are still licensed.
cityplaceguy
Active Member
wang888
Active Member
you said you know a guy who can 'hook' us up...
first of all, if you cant buy a home... DONT BUY... if you dont have the income... ALSO DONT BUY... if you dont get approved... well i'll let u guess the answer to that cityplacedouchebagguy
cityplaceguy
Active Member
Well said partner, but you missed one important thing, intrest rates are staying low and may be going lower so now is the best time to buy!
Forget the rest come be with the best!
By the way im never to busy for yours referalls!!!
kingjohn
Banned
Wait for investment in property can become very expensive because the price for the property is increasing day by day. So it is better to buy property now so it is very profitable for you.
js97
Senior Member
This is hilarious....
Investing in property now is no different than buying a stock at it's peak... on a very extended marging.
Sit down and do the math, even if your property increases every year at the rate for 4% (extremely ambitious) After 5 years on a 300K property, if you sold at 350k you would make very little, if any money. If you consider the Risks and costs involved in this market (Vacancy, Tenant from hell, Land transfer taxes, Realtor fees, Closing costs) and do the actual return, you'll see the risks completely outweigh the benefits.
You're better off buying gold on a margin - at least you'll have a lot more liquidity.
Sounds like there are a bunch of realtors looking for more money.
Investing in property now is no different than buying a stock at it's peak... on a very extended marging.
Sit down and do the math, even if your property increases every year at the rate for 4% (extremely ambitious) After 5 years on a 300K property, if you sold at 350k you would make very little, if any money. If you consider the Risks and costs involved in this market (Vacancy, Tenant from hell, Land transfer taxes, Realtor fees, Closing costs) and do the actual return, you'll see the risks completely outweigh the benefits.
You're better off buying gold on a margin - at least you'll have a lot more liquidity.
Sounds like there are a bunch of realtors looking for more money.
Wildymyst
Active Member
IMO, If you're scrapping by to gather the 20% required for a down payment for a rental property, I would say NO, because you're over leveraging at these risky times. If you're full of cash and can make a big down payment and itching to put your cash somewhere to make it work for you, then go safer by buying into better locations where there is more demand down the road than the "cheapest" ones. After all, cheap people will nickle and dime, and people who want value and quality are willing to pay a little more for something better and thus keeping demand positive down the road.