Posted by John on October 18, 2000 at 08:35:40:
The bank is holding the mortgage, and I found someone that’ll hold a second mortgage for me.
No Money Down in Canada - Posted by Erich
Posted by Erich on September 28, 2000 at 21:11:48:
I was wondering if there are any Canadians that have had success with the No Money Down program? I can see how the princples in the course are “universal” but I’m curious if anyone has had difficulty putting them into practice.
Erich
Re: No Money Down in Canada - Posted by Mike-BC
Posted by Mike-BC on December 03, 2000 at 24:08:18:
Greetings Erich / John!
I live in Prince George, B.C. and bought the CS course two years ago. Within 3 months of buying the course, I had purchased a 6 unit building using none of my own money. I used money from a personal Line of Credit and brought in a partner who also anted up some money and then we had the seller carry a second. These were some of the techniques that CS tells about. A year later I bought my partner out, again structuring the buy-out using strategies from the CS course.
But as many of the posters at this site will tell you, the money is made when you buy, not when you sell. I was able to buy the property at a greatly reduced price because of a number of clues that indicated this was a good candidate for such. More importantly, I have a postive cash flow of $3000 with which to service debt - mortgages etc…
So in response to your question, do the stratgies in the course work, the answer is YES!
Mike
Re: No Money Down in Canada - Posted by John
Posted by John on October 17, 2000 at 15:16:52:
I’m 23 and just started the program. My wife and I just purchased our first home no money down. We haven’t even moved in yet, and I’m looking to invest.
Re: No Money Down in Canada - Posted by Joe M
Posted by Joe M on December 03, 2000 at 18:45:53:
Thanks for the good news. I purchased the course 2 years ago and have started to review it once again. I want to give it another try and make that first purchase and then continue to increase my net worth.
Re: No Money Down in Canada - Posted by Erich
Posted by Erich on October 17, 2000 at 17:03:21:
Congratulations on your purchase!
Did you use one of the specific techniques in the course materials, or were you able to find a vendor to hold the mortgage, or “rent to own” for you?
Erich