The Real Estate and Mortgage Show

Real Estate Coaching, Real Estate Invesment and Alternatives, and Understanding Agreements with Brian O’Neill

In this episode of the Real Estate & Mortgage Show, our guest is Brian O’Neill. Together with her wife, Katie, Brian has a personal experience before, which led them to establish BKW Property Solutions. They aim to teach both the buyers and sellers of properties what they need to know. Tune in and see how their personal experience turned into the successful business that they have now.

Standout Quotes:

• “You have to change your approach, especially if you’re an investor. If you’re a buyer and if you’re a seller, the same thing, you have to change your approach and adapt.”
• “You want to make sure that your agreement is reviewed by an attorney. That would be what I would look at to ensure that this is a viable option and you are protected as a seller.”
• “If you can wait for your equity and sell your house on seller financing, you will get way more money for your house.”

Key Takeaways:

• As a real estate investor, buyer, and seller, you must change your approach and adapt according to your market niche. This enables you to have a successful transaction.
• To avoid being taken advantage of, your agreement and contract must be reviewed by an attorney in every transaction that you do. This gives you protection and ensures that you have a great deal.
• Selling your house in seller financing allows you to earn more. This is only applicable if you’re not rushing to sell your house.

Episode Timeline:

[00:07] Brian’s Real Estate Journey
[02:10] Lowering the Price
[03:12] Alternative Term Structure 
[05:10] Assignable Agreements
[06:57] Why should sellers go for the alternative solution?
[08:16] As a seller, how do they know they are not being taken advantage of?
[10:45] When can somebody absolve the ownership and responsibilities of properties?
[12:19] Finding prospective clients
[15:23] How does Brian Help as a Coach
[17:08] Running a Business and The Cost/Fees for Coaching
[20:40] Where to Reach Out
[22:22] Closing

Learn more about Brian O’Neill and the BKW Property Solutions at:

Website: https://bkwpropertysolutions.com/
Facebook: https://www.facebook.com/bkwpropertysolutions/
YouTube: https://www.youtube.com/channel/UCoBJ-6U3xKLeSaT8QqgY8GA
Instagram: https://www.instagram.com/bkwpropertysolutions/

Learn more about the free master’s class at:

Website: https://smartrealestatecoach.com/
Master’s Class: https://smartrealestatecoach.com/mastersclass/ 

Are things changing?

We cannot deny that the different issues, may it be local or worldwide, can widely affect the market. In this episode of the Real Estate & Mortgage Show, our host Walter Monteiro discusses the current situation in the marketplace.

Standout Quotes:

• “If you're in the market as a buyer or a seller, you're probably noticing a bit of a change in the marketplace.”
• “Interest rates, when they go up, tend to drive the market down.”
• “If values are being challenged, you want to make sure you're not putting yourself in a situation where the bank is turning down the deal because they feel you overpaid for it.”

Key Takeaways:

• There have been changes that are happening in the marketplace. The exact cause is unknown, but it has been assumed to be caused by what’s happening globally.
• Every time there is a rise in interest rates in the market, it automatically brings the market down and vice versa.
• During these situations, conditional offers may arise. This is a great opportunity since some banks may reject deals due to avoid overpayment.

Episode Timeline:

[00:01] Introduction
[01:27] Overview of the Change in the Marketplace
[02:19] Eclectic / Bipolar Market
[03:21] Interest Rates
[03:37] Inventory
[04:15] Conditional Offers
[04:36] Cash on Financing
[04:57] What’s Happening in the Marketplace
[06:56] Outro

Learn more about Walter Monteiro and the Real Estate & Mortgage Show at:

Website: https://therealestateandmortgageshow.com/
Email: walter@maximumresults.ca
Phone: 519-624-9222
Instagram: https://www.instagram.com/waltermmonteiro/
Twitter: https://twitter.com/waltermonteiro
LinkedIn: https://www.linkedin.com/in/waltermonteiro/

How do you Live the Life of YOUR DREAMS? Here’s an Inspiring story from Full-Time Real Estate Investor! With Chris Prefontaine

In today’s episode, our guest is Chris Prefontaine. His company is the Smart Real Estate Coach, a Wicked Smart Community of Associates all across North America that empowers individuals and families to live the life of their dreams. Today, Chris is going to talk about how he tackles the real estate world. If you're serious about making money in the Real Estate Investment Business, then this episode is for you! 

Standout Quotes:

“People are watching the media and it's polluting them because they think tomorrow, the sky is falling. That is good. Let it fall because these markets will keep changing and they're not going to stop changing.”

Key Takeaways:

In the Real Estate world, you cannot time the best route for you. But what you can do is you can get super good. You can get super good at how to stay in it and structure deals.

Episode Timeline:

[00:00] About Chris
[00:59] How Chris tackles the Real Estate World
[02:20] What is Different about Chris’ Approach
[03:21] Getting Someone to agree to a Lease
[04:30] What is a Lease Option?
[06:29] Finding Lease Option Buyers
[07:58] Owner Financing
[09:04] Seller Safety Reassurance
[11:44] How long is the Rent-to-Own Contract?
[12:49] Structuring the End Purchase Price
[13:58] What's the day in the life of a full time real estate investor?
[15:25] The Three Pay Days 
[18:49] How to get Involved 

Learn more about Chris Prefontaine:

Website: https://smartrealestatecoach.com/ 
YouTube: https://www.youtube.com/c/Smartrealestatecoachchannel 
Facebook: https://www.facebook.com/CHRISPRE
LinkedIn: https://www.linkedin.com/in/chrisprefontaine 
Webinar: http://www.smartrealestatecoach.com/webinar
QLS Video Course: http://www.getqls.com
Register to Masterclass: http://smartrealestatecoach.com/mastersclass/ 

Real estate, Client management, Properties to Invest in with Alex Meierhofer

In this, The Real Estate And Mortgage Show, episode, our guest is Alex Meierhofer. Originally from Germany, Alex came to the United States from an exchange program between the US Air Force and German Air Force. The planned two to three years got extended until to a point where they decided to settle down. With the notion to not work forever, and after seeing people’s bad experiences with the stock market, Alex ended up in real estate. Tune in as Alex discussed what he learned in real estate, client management, properties to invest in, and everything you need to know about the real estate industry! Don’t miss it out!

Standout Quotes:

• “Acquiring my Mindset Menu can help people determine which spectrum they belong to—if they are clear and confident in creating their future or if they are the victim of the circumstances.” – Alex
• “I learned that the reason why people are not where they want to be is due to the things that happened to them—not because of their own actions.” – Alex
• “People believed that there is no value when something is given away for free. I work hard to let people realize that there is value.” – Alex

Key Takeaways:

• The definition of “private space” had expanded due to the pandemic. From that perspective, finding good-performing townhouses become a massive challenge.
• If you want to become your own brand, legal, taxation, treatment, and financial aspects are just a few of the many things you need to consider. The next challenge would be how to identify your properties.
• It’s a big myth that non-citizens and non-residents can’t get into the real estate market. Alex wanted to help people educate and overcome this myth.

Episode Timeline:

[00:14] Introducing the Guest
[00:47] Who are you, and what do you do?
[04:54] Did you enter the market as an investor or an agent?
[09:07] What specific type/s of properties do you look for?
[15:36] Are there any properties you prefer not to invest in?
[21:16] How do you source your properties?
[24:36] What benefits do people get when they join your organization?
[31:23] How big is your network?
[35:09] How can someone become your client?
[37:47] How do people find you?
[38:48] Are there any questions I didn’t ask that I should have?
[43:30] Closing

Buyers have lost control

In today's episode, we are going to talk about the situation of today's buyers in the real estate market. We will discuss why buyers have lost control and how sellers are becoming the authority in real estate. 

Standout Quotes:

• Many people, especially buyers, express a lot of frustration because they can't get a handle on how to buy real estate in today's market. It's because the trend these days seems to be that sellers price their homes below market value and then create almost a feeding frenzy or an auction-type atmosphere for people to buy that property in the marketplace.
• After 35 years in the business, I've always felt that regardless of whether it's a buyer's market or a seller's market, the buyer always had some control over the transaction. They had a lot of control in a buyer's market because of contingencies on a home inspection or financing. Before the conditions were waived, there would be games being played to negotiate the price down even further.

Key Takeaways:

• In today's market, sellers price their homes below their market value. They create an auction-type atmosphere for people to buy, so buyers have lost control of the market. 
• In real estate, the buyer always had control over the transaction. They would go to negotiating the price until it comes down to a profitable price. 

Episode Timeline:

[00:00] The Daily Hot Sheet 

[01:48] Concerns about Auctions 

[02:55] Control of Buyers

[04:06] Control of Sellers

[05:00] Is there a way for buyers to take control of the situation?

[05:51] Make the Transaction work

Learn more about Walter Monteiro and The Real Estate and Mortgage Show at:
https://therealestateandmortgageshow.com/ http://www.waltermonteiro.com/
LinkedIn: https://www.linkedin.com/in/waltermonteiro/
Twitter: https://twitter.com/waltermonteiro
Telephone: 519-624-9222 | 519-240-0360
Email: walter@maximumresults.com

 

Fixing and Flipping, is it right for you?

Are you planning to do real estate? Have you envisioned yourself going through listed properties, doing repairs, and then selling them?  It's called Fix and Flip - a technique where you purchase a property, renovate it, and then resell it for a profit. Listen to this episode as Real Estate and Mortgage expert Walter Monteiro shares the pros and cons of this practice.

Standout Quotes:

• "We get a lot of calls in today's market with regards to doing fix and flips. I, for one, I'm not a big fan of them personally because I am not exactly the handiest guy when it comes to doing any renovations." [Walter]
• "Many lenders, especially if they smell a fix and flip in the works, they're not too crazy about providing a mortgage on a flip property. Because let's face it, you're going to tackle this property, you're going to renovate it, you're probably going to get it, and that's going to put their security in danger." [Walter]

Key Takeaways:

• The most severe barrier people have when fixing, and flipping is raising funds necessary to purchase a home, resolve it, and then resell it.
• To begin your real estate journey, if you intend to conduct fixes and flips and have your ducks in a row, you may always use a line of credit secured by your property. You can use that money to acquire the subject property, repair it, and resell it.
• One issue you may run into along the route is that you will need to retain a mortgage on the flip home. And then you're going to have to pay off the mortgage—clearly, factor in all of your improvement charges.
• Suppose you're in a position to undertake a fix and flip; in that case, Walter can assist you with arranging a line of credit against your primary residence and arranging for you to obtain a mortgage on the flip property's subject property.
• As a licensed mortgage broker, Walter can assist you in obtaining private money for your fix and flips. They do this by securing the property with a mortgage, which would be the flip property. And then create what is known as a blanket covenant on the land on which you reside. In this manner, you may finance the flip property almost entirely. And then you can renovate using your funds.

Episode Timeline:

[00:02] What's the biggest challenge when doing Fix and Flip?

[00:50] What are the elements of Financing?

[01:35] Why do lenders dislike the idea of lending money for Fix and Flip projects?

[02:07] Securing Property through Mortgage

[03:11] What's an Interest Accruing Mortgage?

[03:49] Walter Monteiro's Contact Details

 

Learn more about Walter Monteiro and The Real Estate and Mortgage Show at:

Website: https://therealestateandmortgageshow.com/| http://www.waltermonteiro.com/

LinkedIn: https://www.linkedin.com/in/waltermonteiro/

Twitter: https://twitter.com/waltermonteiro

Telephone: 519-624-9222 |  519-240-0360

Email: walter@maximumresults.com

Get preapproved for a mortgage with Walter Monteiro

Do you still have doubts about obtaining a pre-approval for a mortgage? Would you like to get one but has no clue where and how to start? Tune in to this episode of The Real Estate and Mortgage Show as Walter Monteiro tackles how you can get a mortgage application pre-approved and things you should know to increase the chances of approval.

Standout Quotes:

• “When we start a conversation with buyers, many of them have not spoken to a lending institution or a mortgage broker. They just make the assumption that they’re going to have no problem getting a mortgage thinking their credit is good, or they have a good job, and they can get it pre-approved.” [Walter]
• “Lenders look at a few things, they look at your credit rating, they look at your ability to sustain payments, which they call the GDS, and TDS ratio. Those are the percentages of your income, your job stability, all of that kind of stuff. And you need to be aware of what your options are because when you go into the arena of trying to buy a home in today’s environment, it is very, very tough.” [Walter]
• “Do you think that there’s going to be any chance whatsoever of the seller entertaining an unconditional offer? Highly unlikely. The only likelihood that could be is that you make an offer that’s more attractive than the others, and it has a condition.” [Walter]

Key Takeaways:

• It’s nearly impossible to obtain approval for an unconditional or conditional offer because we are in a competitive industry. If you’re not going to receive a pre-approval, you’re extremely risky by making no unconditional offers until you know what you can live with.
• Walter showed a property priced for approximately $799 and was a great home. However, the listing agent informed them within hours that there were 29 offers on the house.
• The proper way to do a pre-approval is to go through the process of providing job letters and all of the information that a lender wants to see if it’s an actual mortgage. Some lenders only offer pre-approvals. They’re deluged with a business that they don’t have time to underwrite pre-approvals, only live deals. As a result, you’ll have to rely on your mortgage professional to evaluate this information. Hence, it’s critical to work with a mortgage professional.
• Banks are primarily concerned with two aspects of funding. The first question is, can the client afford this mortgage, correct? Are they financially stable, do they have a down payment, and all that sort of thing?
• The bank is, in fact, the one who bears the risk. As a result, they have a component called the “loan to value” In other words, they will only pay a specific proportion of the property’s worth or the purchase price, whichever is smaller. Therefore, unless you have those means available to you, you run the risk of putting yourself in a legal predicament in which you risk being sued, losing your deposit, and much more. So, you must obtain pre-approval before you begin browsing for a home.

Episode Timeline:

[00:03] Should you get a mortgage approval?

[00:12] Is it essential to talk to lending institutions or mortgage brokers?

[00:29] Why is it impossible to get an unconditional offer?

[00:51] Is budgeting Important?

[01:50] Should you be competitive with your offers?

[02:08] Is it essential to get pre-approved?

[02:50] Should you consult a mortgage professional?

[03:18] What are the two elements of financing?

[03:34] Who takes risks?

[04:02] Is it essential to get a pre-approval when shopping for homes?

[04:26] Who are the recommended professionals?

 

Learn more about Walter Monteiro and The Real Estate and Mortgage Show at:

Visit the site for preapproval: www.myhomepreapproval.com

Website: https://therealestateandmortgageshow.com/| http://www.waltermonteiro.com/

LinkedIn: https://www.linkedin.com/in/waltermonteiro/

Twitter: https://twitter.com/waltermonteiro

How To Avoid Bidding Wars While Buying a House

In this episode of The Real Estate Mortgage Show, we have none other than Walter Montiero. He is the team leader of the Maximum Results Team affiliated with ReMax real Estate Centre in the waterloo region. Walter Monteiro is an experienced agent that works with his wife, Karen Monteiro. Walter and Karen grew up in Waterloo Region. Their combined 36 years of real estate and mortgage knowledge will ensure a seamless transaction and investment. Walter Monteiro can help you sell or buy properties, specializing in all commercial and residential listings. Walter will find you the home of your dreams.

Standout Quotes:

• "What happens when a home hits the market? These days most sellers are underpricing them. They're underpricing them because they're trying to create a real frenzy on the property, getting a lot of people to come and look at it and create multiple bids."
• "Buyers that are competing against you are trying to make their offer look the best. They do that by taking all contingencies out of the offer -No condition on financing, no conditional on inspection, no condition on the sale of property, that's all gone. Unless you're willing to get your hands dirty and compete against these people, that's what you're up against."

Key Takeaways:

• It is possible to avoid bidding wars. Of course, this means buying a house no one wants. You won't prevent a bidding war if you buy a house through the MLS system and the property is decent because only properties nobody wants to sell without bidding wars. Overpriced homes, homes in wrong locations, and properties in need of substantial rehabilitation. These properties don't cause bidding wars.
• When a home is listed on the MLS, it is also listed on realtor.ca. On an annual basis, realtor.ca receives over 1.7 billion visits to individual property pages. As a result, numerous eyes are scanning that system for available real estate. That is why you are entering such a competition, knowing that realtor.ca serves as the backbone for over 10,000 different real estate websites.
• When a house is put on the market nowadays, the seller typically states that they will not consider offers for the first five to seven days. It creates a frenzy of people interested in purchasing the property, reaching 5 10 15 30 40 50 people.
• The best way to avoid bidding wars is to use the services of a real estate agent. Contract with that agency for buyer representation. Because once you do, you will be exposed to homes currently on the market and to potential off-market properties.
• What do those agents do to find non-listed properties? They start by looking at the old data. They scan the expired listings database if they can't find a home on the MLS due to inventory shortage. Your agent may contact prior owners to see if they would consider selling.
• Agents search the database for sale by owner properties. You could do that on your own, but you have an agent who is talented and knowledgeable about the market and who can contact these sellers on your behalf and ask for permission to show your property.
• Your agent will hunt for rental properties. The majority of rental properties are actively seeking tenants. Occasionally, we'll contact a landlord who may be tired of being a landlord and discuss the possibility of selling the property. As a result, your agent can bargain on your behalf and arrange for a private join. And you are suddenly without competitors.
• Look for homes that have been on the market for a more extended period than the average time required to sell a home. That is often less than seven days in today's market. Solicit your agent's assistance in locating houses that have been on the market for more than 14 days, 30 days, 60 days, or longer. We don't want to end up buying a house that nobody wants, but you may come across a seller who is at their wit's end. They are simply looking to get rid of the residence. They're fed up with the process, and your agent has secured a terrific bargain for you with no competition.

Episode Timeline:

[00:13] Is there a sure way to avoid bidding wars?

[01:53] How does a home end up on the realtors.ca website?

[02:20] Why do they delay offers?

[02:35] What are unconditional cash offers?

[03:25] Should you get a real estate agent?

[03:54] What’s the expired database all about?

[04:22] What’s the owner’s database all about?

[05:04] Should you look for houses for rent?

 

Learn more about Walter Monteiro at:

Website: http://www.waltermonteiro.com/

Twitter: https://twitter.com/waltermonteiro

Phone: 519-240-0360

The Phenomenon of Blind Bidding in The Real Estate Market

In this episode of the Real Estate and Mortgage Show, our host Walter Monteiro talks about the phenomenon of blind bidding in the real estate market. Today, Walter explains everything there is to know about blind bidding and how it impacts both the buyer and the seller.

Standout Quotes:

• “You would strictly be putting yourself at a disadvantage, you'd be giving away all the cards, and you’d be given the advantage to the buyer.”
• “Who wasn't being good to sellers, back then buyers, buyers were nasty.”

Key Takeaways:

• Justin Trudeau has decided to enact laws to eliminate blind bidding in the real estate market.
• Unreserved, an Ottawa startup, appears to have some kind of website with an open bidding platform, so you can buy real estate, you know, people put their homes on this platform.
• All of a sudden buyers are demanding that they need protection from these greedy sellers.
• Federal government has no jurisdiction over real estate. Real estate is mandated on a provincial level.

Episode Timeline:

[0:15] Eliminating Blind Bids

[0:54] Real Estate is shaking up

[1:58] Blind Bidding System

[2:52] What’s Unfair?

[3:29] Market in Real Estate

[4:11] Federal Government

[4:47] Reach Out to Walter

If you have questions about buying real estate and finance, Feel free to call Walter Monteiro at 
5192400360 or visit https://waltermonteiro.com

Walter Interviews a Young Real Estate Investor | Maximum Results Team

In today’s episode of The Real Estate and Mortgage Show, we have invited David Sandhu. He is the CEO of TiLt Ventures, an investment company that focuses on real estate, stocks, and sports betting and aims to educate others on how to navigate the world of big-ticket investments. The company is dedicated to bringing new commerce opportunities to Prince Rupert, British Columbia. Even though David is just a starter in real estate investing, he still has many insights to share. And today, he will be tapping into some of his secrets on how he raises money.

 

Standout Quotes:

• “The next project always has to be in something that’s making money.”
• “There’s so much overhead that you cannot win in rent. You win in the appreciation and the leverage.”
• “Crypto is a large part of the future.”
• “It’s through real estate that you can be new with your generational wealth and change through giving back.”

 

Key Takeaways:

• There’s not much growth in Commerce other than big corporations coming into town.
• David did not spend his 20’s at parties and didn’t have his teenage years gambling up until the morning.
• One benefit of a private deal is you don’t have the pressures of many competitions on the deal.
• David’s day is dedicated to his children, but he is still on the phone and answering e-mails.
• David and his company know when to jump into the premiums.

 

Episode Timeline:

 

[00:35] David’s location

[03:11] About TiLt Ventures

[06:52] Does David tackle his projects on his own?

[09:19] Raising Capital

[13:14] How David Finds Properties

[17:04] The Endgame

[18:00] A Day in the Life of David Sandhu

[20:30] Networking

[23:20] David’s Instagram Account

[27:02] IS David in the Crypto Space?

[29:08] David’s Message

 

Learn more about David Sandhu

Instagram: tilt_ventures

E-mail Address: davidsandhu@hotmail.com