Feb 05 2025 22 mins
Are auction sales the key to unlocking real estate investment opportunities? In this episode, hosts Ryan and Neal break down the world of auction sales in Canada. They cover how properties end up at auction, the processes involved, and the challenges lenders face with financing these opportunities. Learn how foreclosure and tax auctions work, how to conduct property research, and how lenders can use creative financing options to make the most of these real estate opportunities.
Show notes:
2:02 – Ryan and Neal discuss weather, transitioning to auction sales topic.
3:56 – Auction sales becoming less common due to price growth.
4:43 – Foreclosure auctions sell properties for unpaid mortgage or taxes.
6:02 – Variations in auction processes across provinces like BC and Ontario.
7:17 – Tax sales conducted by municipalities for unpaid property taxes.
10:50 – Challenges with financing auction properties, especially regarding title insurance.
12:14 – Ryan shares how family funds helped finance his first auction property.
13:51 – Using cross-collateralization to secure auction purchases with other properties.
15:20 – Auction bids require 10-20% deposit and full payment soon after.
16:58 – Limited access to property inspections; exterior checks are crucial.
19:11 – Importance of networking with auction buyers and local professionals.
20:36 – Negotiating directly with homeowners as a strategy before auctions start.
Resources:
- Keystone Capital Group
- CPLP Instagram: @cplpodcast
- Keystone Instagram: @keycapgroup
Find Neal On:
- Instagram - @neal.andreino
Find Ryan On:
- E-mail - [email protected]