- Building Wealth Through Real Estate Investment
- info@mkproperties.ca
FAQs
"Real Estate cannot be lost or stolen, nor carried away. Purchased with common sense and managed with reasonable care, it is about the safest investment in the world"
- Franklin D. Roosevelt
Faq
Got Questions? We’ve Got Answers!
Below are answers to the most frequent questions we receive from potential property investors. Feel free to contact us should you have any other questions or talk to us directly.
We expect your lawyer to be involved as long he or she is experienced with real estate. We can work with your lawyer, or we have available attorneys who we have used for numerous deals, whichever you prefer.
In a Joint Venture partnership we will always work together to what is mutually beneficial. We typically ask for at least a 5 year commitment or 25% appreciation to ensure we optimize the return on investment. If for any reason you will need to exit, we will work out an option to either purchase your shares, and/or we can attempt to sell your stake to another investor.
You don’t, but our properties typically already have equity built up once they are ready for tenants. As investors, we are also prepared for market fluctuations. With real estate investment, there are multiple income streams rather than only relying on appreciation. For example, if interest rates go up, and/or there is a market correction, rental income usually increases to help offset. Please check out our Build Your Wealth section to learn more. Our properties are not going anywhere and will always have value.
You’ll have a recorded mortgage and can always foreclose and fire sale the property to get your funds . We can also have another member of our team continue the Joint Venture partnership, or sell the property to get your investment and growth. You’re secure no matter what happens.
No, but to be in a first position we’ll require from $60,000 to $250,000 depending on the deal. You tell us what you want to put out and we’ll connect you to a deal that matches with full transparency. In addition to Joint Venture, sometimes we borrow smaller amounts from private lenders for shorter periods of time. Contact us if you are interested in private lending, or to discuss further.
Banks require large down payments, excruciating qualifying, massive time delays and won’t loan on houses needing repairs. If we had to rely on banks it would be very difficult to continue purchasing homes. Given the extensive time delays and barriers to qualifying, we work through private funding and Joint Venture Partnerships to give us the ability to purchase homes firm allowing us to get the best value deals.
It’s actually quite easy, We can help you move it to an administrator who will allow you to invest your money into anything you want, not accounts that benefit the account administrator. It costs nothing to transfer but will take about 10 days. Once complete, you can notify us and we could work on a deal for you. Moving forward, your interest is tax free and deferred in your plan. Olympia Trust is a provider of self-administered RRSPs for private mortgage loans should you want to research this.
You can do a drive by or we can schedule a visit. We discourage this because the house will likely need to be renovated, which is why we can buy it at a discount. Remember, you’ll get a current appraisal showing work to be done and value once completed.
Your closing package should contain the following:
– An original Purchase Agreement
– A copy of the mortgage. The original will be recorded and then sent to you
– A Joint Venture Agreement
– A title insurance policy for property
– A recent appraisal of the property.
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