The writer is a Vancouver mortgage broker with experience in bad credit mortgage in Canada applications. He is familiar with most bad credit Canada mortgage lenders. Potential purchasers need not be worried if there credit difficulties in the past.
The normal Mom and Pop process is simple. The process for locating properties that can be flipped does share a few similarities with the more traditional role the sales agent plays. The sales agent will locate the types of properties you are looking for, present them to you, and if an opportunity makes financial sense, you will make an offer for the agent to present to the seller.
Significant information that traditional sales agents are not used to providing is data specific to the market you are buying in. If requested, they may provide a few comparables, or comps as they are known, but you need lots of hard data that will support your investment decision. Housing prices vary widely from city to city and from community to community. Prices are relative. For example, an identical house selling for $85,000 in one neighborhood might be worth $110,000 in another neighborhood. That’s a difference of $25,000 for two identical houses. You must have market data that will enable you to make sound investment decisions.
In addition to traditional real estate sales agent, there are agents who specialize in investment properties and nothing else. You focus should be on developing relationships with those agents.
Duncan Seward is a Vancouver mortgage broker. Mortgage BC is the focus of his business. He is an expert in bad credit mortgage refinance applications. Poor credit loans need not be a concern to clients with a damaged credit history.