Excellent video! Getting into the wholesaling this entire video was full of gems. I had a question what’s the flow structure for when you generate leads to signing a contract? So let’s say I generate a lead through one of my various channels (website, Kijiji/Facebook/google ads, direct mail) and he calls me saying he has a property he wants to sell. Upon giving me the property info and all that over the phone, do I make an offer there and then and have that offer be contingent on further inspections? Or do I schedule a date and time with him to go and do inspections on the property and then give him an offer afterwards?
In Ontario you need a standard purchase and sale agreement. You do not need to start up a business to be a wholesaler but the key to doing the kind of volume Luc is doing is finding deals and then having the buyers to purchase them. The more you run it like a business the more successful you'll be.
This video was great !!! Super helpful I’m trying to start wholesale in Surrey bc I have realtors in my family so I have access to a lot of stuff the general public isn’t. Would using the MLS and cosmos etc be beneficial to me or should I stick with the channels you recommend here ? Thank you !
If a seller or their agent asks for proof of funds whats the best answer and also would you know if hard money lenders can provide a letter proof of funds?
Sellers and agents rarely ask for proof of funds. Lenders ask for this all the time but if you're dealing with a hard money lender they won't be asking if you are the borrower.
I know this might be out of context but do you need a license to do wholesaling real estates in Canada? I’ve seen videos and read about wholesaling in the states and majority of them said there’s no need of a license. I live in Canada and I’m trying to start the wholesaling business.
@@DarrenVoros In Saskatchewan you do not need a license but you have to be a part of the FCCA - Financial and Consumer Affairs Authority of Saskatchewan. - if you are not your business will be closed down.
It drives me nuts when people ask me how much did you pay for the house. I NEVER tell them. Its none of their business. If you are serious about this business, If I am making $20 or $100,000 on a wholesale deal that should never enter the picture. People who think that man you are making a killing aren't serious and don't understand how it works. COME ON PEOPLE. If you know you numbers and its a great deal than do it, and if the numbers don't work than don't do it. I have had people say to me if you won't tell me what you bought it for I will not be putting an offer in and I gladly kick them to the curb. What if I were to inherit a house. Mortgage free from my grandmother, IT DOESN NOT MATTER how much I am making. Man oh man you can see how worked up I get lol. Not really cause I don't really care. Please know the nieghbourhood know you numbers and stay in your own field. Love to hear your opinion.
Haha you did get worked up but I love it! You can tell you are passionate about this topic and what you do. I think Luc would agree with all of your points 100%. Thanks for watching and commenting.
What great questions you asked! You answered so many questions I had been thinking about but didn't know where to find the answers. Thank you!
Absolutely! Wholesaling is a service that helps people. It’s not a scam, bad people scam. Integrity triumphs! Great information & video, thank you!
Excellent video! Getting into the wholesaling this entire video was full of gems. I had a question what’s the flow structure for when you generate leads to signing a contract?
So let’s say I generate a lead through one of my various channels (website, Kijiji/Facebook/google ads, direct mail) and he calls me saying he has a property he wants to sell. Upon giving me the property info and all that over the phone, do I make an offer there and then and have that offer be contingent on further inspections? Or do I schedule a date and time with him to go and do inspections on the property and then give him an offer afterwards?
A lot of value there! Thank you so much both of you
Excellent and informative video. Good, honest questions and good, honest answers. I appreciate that you are both willing to share your knowledge.
Glad you enjoyed it! Luc is a wealth of knowledge in this space.
Thank you so much to both of you for all of the advice that you have given today!
Amazing so in depth.
Thank you
Very informative. Thank you for asking him the right questions
Luc was a great guest. Glad you liked it.
Very insightful! Great information, thanks Darren and Luc
Our pleasure! Luc is a wealth of information.
What contracts do you need as a wholesaler to close of your first deal in Ontario. Also do you need to start up a business to wholesale?
In Ontario you need a standard purchase and sale agreement. You do not need to start up a business to be a wholesaler but the key to doing the kind of volume Luc is doing is finding deals and then having the buyers to purchase them. The more you run it like a business the more successful you'll be.
Learned a lot .TY!
Glad you enjoyed it Minette!
This video was great !!! Super helpful
I’m trying to start wholesale in Surrey bc I have realtors in my family so I have access to a lot of stuff the general public isn’t.
Would using the MLS and cosmos etc be beneficial to me or should I stick with the channels you recommend here ?
Thank you !
I think you can find great deals on and off the market so I would use any and all strategies. The money is in the "buy" after all.
Where can Obtain a wholesale contract for Canada? Once the contact is completed where do I process it in Ontario.
Do I need the standard purchase and sale agreement in Alberta And where can get those??
Yes that's the best thing to use. Do a google search for one.
If a seller or their agent asks for proof of funds whats the best answer and also would you know if hard money lenders can provide a letter proof of funds?
Sellers and agents rarely ask for proof of funds. Lenders ask for this all the time but if you're dealing with a hard money lender they won't be asking if you are the borrower.
Cool. I am looking for deals for single family flips in bc.
Awesome thats great to hear. I hope everything works out and my videos helped Nick!
Need license to wholesale in B.C.?
Can i apply for one as an international student?
I know this might be out of context but do you need a license to do wholesaling real estates in Canada? I’ve seen videos and read about wholesaling in the states and majority of them said there’s no need of a license. I live in Canada and I’m trying to start the wholesaling business.
You do not need to licensed to wholesale properties in Canada. In fast it's better if you don't have a real estate licence in my opinion.
@@DarrenVoros In Saskatchewan you do not need a license but you have to be a part of the FCCA - Financial and Consumer Affairs Authority of Saskatchewan. - if you are not your business will be closed down.
Help Help
IS Wholesaling Legal IN MANITOBA??/ ? ?
Yes for sure.
It drives me nuts when people ask me how much did you pay for the house. I NEVER tell them. Its none of their business. If you are serious about this business, If I am making $20 or $100,000 on a wholesale deal that should never enter the picture. People who think that man you are making a killing aren't serious and don't understand how it works. COME ON PEOPLE. If you know you numbers and its a great deal than do it, and if the numbers don't work than don't do it. I have had people say to me if you won't tell me what you bought it for I will not be putting an offer in and I gladly kick them to the curb. What if I were to inherit a house. Mortgage free from my grandmother, IT DOESN NOT MATTER how much I am making. Man oh man you can see how worked up I get lol. Not really cause I don't really care. Please know the nieghbourhood know you numbers and stay in your own field. Love to hear your opinion.
Haha you did get worked up but I love it! You can tell you are passionate about this topic and what you do. I think Luc would agree with all of your points 100%. Thanks for watching and commenting.
What the heck! Those are some dirty ass people :S Isn't getting running water worth your effort since you live in a city? Sheesh!!!