With the stock market continuing its downward spiral, more and more investors are looking at investing in real estate. Some are looking at commercial real estate, others are looking at multi-residential units or even single family homes that can be rented out. Regardless of the type of real estate, many novice real estate investors are surprised at the obstacles they have to overcome trying to finance the purchase of their first investment property.
- Canada is heading into another year of economic growth
- Consumer confidence levels are strong
- Unemployment levels are forecast to remain low
- The Canadian dollar will continue to climb
- 250,000+ New Citizens are coming to Canada
- Renovations still on high priority for many
- Bank of Canada is holding on interest rate hikes.
Here are some Government websites to educate yourself for the registeration process of a business in Ontario and Canada and related forms to be completed.
Please contact us should you require assistance or more information as to what is best for you. FREE!
You may also be required to find out more about
- Retail Sales Tax Vendor Permit (Provincial RST)
- Employer Health Tax (EHT)
- Workplace Safety and Insurance Board (WSIB)
- Goods and Services Tax/Harmonized Sales Tax (GST/HST)
- Payroll Deductions
- Corporate Income Tax
- Import/Export Account
The biggest surprise for most novice investors is the amount of their own cash that they will have to put into a transaction. Far too many people have seen those late night infomercials telling them how to buy with no money down. While there may indeed be one or two investors out their who have found the perfect deal that allowed them to buy with no money down, it is rarely that easy. In fact, most lenders will demand that you have at least 5% of the purchase price available as a down payment. For commercial or industrial properties, lenders will often require a down payment of between 25% to 35% of the value of the property.
Once the shock of having to come up with a large down payment wears off then the novice investor is shocked to hear about all the costs involved in obtaining the Financing, Environmental Report, Appraisal, Land Transfer Tax, GST, Lawyer's cost.
Buy Sell and Rent Real Estate in CANADA
Century21 Elite Estates Limited (Brokerage)
CENTURY 21 Elite Estates Ltd. • 405 Britannia Road East, #101, Mississauga, ON L4Z 3E6
. Direct : (416)566 1102 • Phone (905)502 5800 • Fax (905)502 1800 • Email : NadeemRealty@Gmail.com .
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