Ontario Tax Sale Property Forum
Tax Sale Forum => General => Topic started by: twinn1 on October 29, 2009, 06:18:17 AM
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Was surfing craiglist toronto and saw this ad:
http://toronto.en.craigslist.ca/tor/reo/1441271346.html
WARNING: Real Estate Tax Sales Really DO exist in Ontario!!!
If you've been wondering how to make money in Ontario Tax Sales and don't know:
- Where to start
- How it works
- What are the risks
- How much can you make
or ... if you have not pursued investing in Ontario Tax Sales because you don't have a lot of money behind you to invest,
then this no-cost information session is just for you.
We will tell you how you can find out about all of the nitty-gritty details about investing successfully in Ontario Tax Sales, so that you avoid the most common risks, and make the most profit.
We will show you real life examples of local Ontario residents who made over $100,000 last year (even during a recession), by investing in Ontario Tax Sales part-time, with very little starting capital, and not having to leave their day-job.
Is someone on this board going to make a special apperance? Will I be able to get an autograph?
You can simply dabble by spending a few hours in the evenings/weekends on your computer and make an extra $25,000 - $100,000 per year by getting properties through a unique form of Ontario Tax Sales (not live public auction) and then flipping them for a profit.
You will learn about the procedures, receive all of the forms and checklists, and learn the terminology.
Complimentary Session:
Tuesday November 3rd at 7:00PM Sharp
Duration: Approx. 1 hour
Location: Dufferin St. just south of Yorkdale.
(Exact address provided when you call to confirm attendance)
NOTE: You MUST CONFIRM if you would like to attend so that we can reserve a space for you.
Space is limited and with some people still registered, the remaining space will be filled fast.
Whats the deal with this? Is someone starting up a new business by selling "secrets" that are readily available for free on the internet? I should attend this session just to find out what there selling and for how much.
People could write a encylopedia with all the info on these forums that is available for free.
It will just drive more people into the tax sale process, maybe by next year we will be lucky if we get too pay full MLS asking price on properties in this game.
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I have seen this type of ad before mainly by real estate agents trying to get clients (listings).
Here is the organization who is running it:
http://www.mandmproperties.biz/
Maybe we need to send someone with all sorts of winnings like PFM and act on our behalf to sell the winnings of members of this board as an investment.
If it is a sign of tax sales going mainstream then I think members of this board should think about changing the rules. such as only members of this board are allowed to buy tax sale properties. ;D
Dave2
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I am just weary when I see any of these "invest in real estate" seminars, there is always a catch. Either they are selling you some book/course or are looking for listings, or a bait and switch type of deal etc... Nothing in life is free.
Its all good by me, as I truly doubt that anyone going to the seminar is going to start bidding. With today;s technology, internet etc.. if someone is not so inclined to even search ontario tax sales in google, I can;t see them doing the required due diligence to obtain a property.
Usually, there is always a sales pitch for investing without capital, which is just nonsense. In the tax sale game, without capital there are no winnings, as banks do not finance just land. That right there tells me that something is not legit.
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"with all sorts of winnings like PFM " Your not fooling anyone..seems to me you have more hits then me ;D
But I wouldn't lose sleep .there is several clowns running these seminars at 300 a pop and there has been people selling tax sale lists for several years
canadianfinancialfreedom.com
http://www.canadiantaxsales.ca/
mandm whatever..
These are idiots who take a course and pay a scammer 300 . They will come and bid the minimum or buy the junk.. These clowns come and go and get slaughtered . There is newspaper write ups about tax sales in major papers every once in awhile..and the dreamers come and make min bids and fade away after losing 5 or 10 tenders. How much of a threat can someone be if they cant even figure out that the listings are in the Gazette for free. Don't see them really grasping the whole concept
How much more mainstream can we get then this site?? Its wide open on the internet..The only difference is we don't charge .
Speaking of that ..please do click on the occasional google ad at the top of the page..each time you do the site gets 50 cents or so and it will pay for the site..Try to click one ad a day to help ..
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I am putting on my own seminar on Tax Sales absolutely no charge. Its only for young females entrepreneurs long on legs and short on brains. Please E-mail me for details and exactly what to wear. No need to bring your husbands or boyfriends they would only get bored.
Contact me soon as there are a limited number of positions ( I mean spaces)
Farrouk
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I am putting on my own seminar on Tax Sales absolutely no charge. Its only for young females entrepreneurs long on legs and short on brains. Please E-mail me for details and exactly what to wear. No need to bring your husbands or boyfriends they would only get bored.
Contact me soon as there are a limited number of positions ( I mean spaces)
Farrouk
I think you should rent PFM's boat and hold the seminar on it next summer. That way you can ensure the standard of dress I am sure you are looking for. The entrepreneurs don't have to worry as I am sure some one on this Board is willing to act as a chaperon. Any volunteer's? ;D
Interesting I checked with the head of our companion board and he has never head of these guys either.
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Interesting I checked with the head of our companion board and he has never head of these guys either.
I presume you mean ontario tax sales , companion site ..more like competition ...
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Well he certainly is helpful now that he provides all the info for all the tax sales , including the ones he doesnt feature..make sure you give everyone all the info so we can have plenty of bidders as they dont have to do any research >:(
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This guys have popped up and are doing title searchs with deeds etc for 69
http://www.ontariotitlesearch.ca/ (http://www.ontariotitlesearch.ca/)
" title abstract, copies of the current deed and all outstanding encumbrances up to a maximum of 5 documents for $69.00 + GST"
cuts everyone else by at least 50% and only a few bucks more then doing it yourself
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Lead times are quite long.Don't wait till last few days.
cheapest around though.
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They don't include execution searches on the owner with is something you definitely need.
Also you are on your own trying to decipher it.
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very true..you are on your own but so are you if you drive to a registry office..This may be handy for some..others absolutely need the advice and report
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I have followed the link you have given and I'm amazed on what I have read for. Once I have surf on the internet, I found out this (non related link removed, admin) and I have read that anyone who owns property must pay some sort of real estate tax to the government. These taxes in turn fund numerous services, including hospitals, schools, law enforcement, road construction, parks and playgrounds. But, what happens if a real estate owner stops paying taxes?
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But, what happens if a real estate owner stops paying taxes?
You have got to be kidding.
Don't pay your taxes and you will see what this site is all about. ;D If you don't pay you property taxes, eventually you property will be sold by the government for the back taxes.
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This guys have popped up and are doing title searchs with deeds etc for 69
http://www.ontariotitlesearch.ca/ (http://www.ontariotitlesearch.ca/)
" title abstract, copies of the current deed and all outstanding encumbrances up to a maximum of 5 documents for $69.00 + GST"
cuts everyone else by at least 50% and only a few bucks more then doing it yourself
I think this is the best deal around...
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alot of GOOD properties get de-listed.Spending $69 +PST/GST on one property is not much but times 5 can be very expensive. If it's a tax sale--what is VERY important to check--City/Province work orders and FED tax liens.
Any others--don't worry-they get canceled. Better 1st--go pay $10 to the municipal office offering the sale- most give directions,size. aerial photo- then find registery land office. If there is work orders--pay for the file (Instrument #) and check demands. Another CAUTION, alot of these lands are CONSERVATION regulated.You can't do FK all with them or the lot is too small to build. Another DEADLY condition is the property is over tax assessed. Ontario tax sales does show photos of selected properties. I've found out that the municipilty pays for the exposure. Expect alot of competion on such practice. My advice--head to the city--get the package and for god's sake--ask them questions---ZONING Orders Polution concerns Conservation regulated
{:^/
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alot of GOOD properties get de-listed.Spending $69 +PST/GST on one property is not much but times 5 can be very expensive. If it's a tax sale--what is VERY important to check--City/Province work orders and FED tax liens.
Any others--don't worry-they get canceled. Better 1st--go pay $10 to the municipal office offering the sale- most give directions,size. aerial photo- then find registery land office. If there is work orders--pay for the file (Instrument #) and check demands. Another CAUTION, alot of these lands are CONSERVATION regulated.You can't do FK all with them or the lot is too small to build. Another DEADLY condition is the property is over tax assessed. Ontario tax sales does show photos of selected properties. I've found out that the municipilty pays for the exposure. Expect alot of competion on such practice. My advice--head to the city--get the package and for god's sake--ask them questions---ZONING Orders Polution concerns Conservation regulated
{:^/
Please note that ALL Crown liens survive a tax sale (not only Federal liens). Further, work orders would not appear as instruments on a title seach - you must request a search of the records of the Building Department (I wonder how many do this). I believe that there is a thread here about a bidder that had to demolish the house that he had won and is now stuck with a lot that cannot be built on. Finally, very few Municipalities will provide complete disclosure on tax sale properties because they are not obliged to do so. Once they elect to provide more than the required information, they are potentially open to liability.
There are other issues as well, for example easements that have arisen before a tax sale will survive the tax sale. The points about Conservation Authorities have been made before. The point about a septic system is well made. I recently pulled back on an attractive property for this very reason.
Asking questions is not enough - you must conduct your own research and look to a number of sources. This is especially true when submitting a substantial bid.