benjamin bach

Property Management for KW investment property

A big part of our client base lives outside of Kitchener Waterloo – other parts of Ontario, Canada, and even people living in other countries.  They are able to live   where they love, but invest where the numbers make sense because they employ quality property management companies.

Even a lot of our clients who live in the KW area use property management to take care of their rental properties; it’s just easier, and can be very affordable (depending on who you deal with)

Here’s a bit of info for you:

Contant me “Benjamin AT BenjaminBach.com” for a referral to a great management company

benjamin bach

Why we invest in Kitchener Waterloo Real Estate

Yesterday I had the chance to sit down with two of our clients, Dr Robin Walsh and Darryl Kraemer to discuss why they invest in Real Estate, as opposed to any of the other investment vehicles available, like stocks, mutual funds, commodities, gold etc. 

Press play to hear what they had to say:

Darryl and Robin have a great portfolio of single family residential (including condo units) & student rental properties in Kitchener Waterloo, Ontario -all tenanted & performing well. 

If you’re interested in starting to invest and building a diversified property portfolio like theirs over time, send me an email. I’d love to help you

benjamin bach

What to put in an offer when you’re buying investment real estate

A friend of mine asked me this morning what clauses we usually put in an offer, when we’re helping our clients buy and sell an investment property in Ontario. 

While every purchase and sale will have unique features demanding custom clauses – often a few Schedules worth of them – most of the time, we use the same base of conditions and clauses when our clients are buying a rental property.

Conditions:

Real estate agreements are either ‘firm’ or ‘conditional.’  A firm offer is one where the are no additional conditions on the part of the buyer, and conversely, a conditional offer is where the buyer has some time to do due diligence, such as needing to get approval for financing, having the property inspected, or making sure that the city will let you develop an apartment building on the parcel of vacant land.  Most of the time our clients put in conditional offers.

The typical conditions we use are: a financing condition, an inspection conditions, and verification of income and expenses & supporting documents.

If the property we were looking at was a potential development site, we’d probably put in a Zoning condition – allowing us to research and verify that we could develop and build what we wanted to – and an environmental inspection, to make sure that we weren’t buying a potentially contaminated site.

It’s important to verify the income and expenses, and review the actual leases and bills.  We want to run our own eyes over those documents; trust but verify!  Also, the bank or lending institution is going to want to see the information as well, as they do their own financial due diligence on the investment property.

Clauses:

In addition to the conditions, we usually will include a number of additional clauses in the Schedule A (and often we’ll append more Schedules, depending on the offer. The most I’ve written is 4 additional schedules to the agreement of purchase and sale.  The client was a lawyer ).

If you were purchasing an property that was already rented with tenants, one of the clauses would be that the rents and leases are all legal according to tenancy laws of Ontario, and that the landlord doesn’t have any pending or upcoming issues with the Landlord and Tenant Board.

I include a clause asking for the current lodging licence, if it is a student rental that requires one.  Also, make sure that the license is current when the property closes – If we don’t complete the transaction till August, I still want the license to be in place then!

I like clauses where the seller hands over all architectural & electrical plans, and any information they have on hand about possible expansions of the property. It’s amazing what owners have, and how useful it can be in a few yeas when you want to make some changes to the proeprty!

Depending on the type of property, there will be additional clauses; every property is unique, so each agreement of purchase and sale will vary.  We recommend all of our clients run offers by their lawyer, and it’s a good thing for you to do too.

What clauses and conditions do you include when you’re buying a property?

benjamin bach

Nominees for Kitchener Waterloo Business Excellence Released

The Kitchener Waterloo Chamber of Commerce has just released the list of nominees for the annual Business Excellence Awards.

Congratulations to everyone who is nominated!

I want to specially recognize a number of my friend’s who are nominated, inlcuding Fiddleheads, Gowlings, Rick Baker, Kurt Wissent, Mandy Dennison, Jason Kipfer, Stemmler Meats, Nutrition for Learning, Mandy Dennison, Leo Tobi, Bingemans, City of Kitchener and Paul Demarco, among others.

I am grateful that our company Keller Williams is nominated for Business of the Year and for best Workplace Training. We are the only real estate firm nominated for excellence!

Essence of Renaissance 2010 Business Excellence Awards Gala

March 3, 2010

The Gala event of the year to recognize Greater Kitchener Waterloo Chamber of Commerce members who have made exceptional contributions through their involvement and leadership for the betterment of our community. 

Congratulations to the following nominees:

Business of the Year (Under 20 Employees)

Anytime Fitness
Keller Williams Golden Triangle Realty Inc.

Arbour Soft Tissue Centre
LawyerLocate.ca Inc.

Bulldog Fire & Security
Mindscape Innovations

Caudle’s Catch Seafood Ltd.
Prior Resource Group

Divine K-9, The Art of Dog Grooming
Seven Shores Urban Market & Café

Fiddleheads Health and Nutrition Inc.
Verses Restaurant

GeoSmart Energy Inc.
Xylotek Solutions Inc.

Business of the Year (Over 20 Employees)

CIBC
MTE Consultants Inc.

Covarity
Second Foundation Consulting Inc.

Eastforest Homes
TD Canada Trust

Gowling Lafleur Henderson LLP
Union Gas A Spectra Energy Company

KPMG LLP

Environment Award

Cartridge World
Residential Energy Efficiency Project

Enerliv Inc.
Stemmler Meats & Cheese Inc.

Enermodal Engineering Ltd.

Innovation Award

Agfa HealthCare
Manulife Financial

Christie Digital Systems Inc.
Maplesoft

DALSA Corporation
The Children’s Museum

Drayton Entertainment
UW School of Pharmacy

KW Symphony

Michael R. Follett Community Leader Award

Rick Baker
Jane Jantzi

Brian Bazely
Gerry Remers

Machelle Denison
Rosemary Smith

Barbara Hill

Non-Profit/Charitable Award

Kitchener and Waterloo Community Foundation
Volunteer Action Centre

Leadership Waterloo Region
Waterloo Wellington Flight Centre

Nutrition for Learning
YMCA of Kitchener-Waterloo

United Way of Kitchener Waterloo

Volunteer of the Year Award

Mandy Dennison
Rob Sonada

Neil Doran
Leo Tobi

Jason Kipfer
Don Wales

Julie Langham

Waterloo Region Immigrant Employment Network (WRIEN) Award

Christie Digital Systems Inc.
Focus for Ethnic Women

City of Kitchener
The Walter Fedy Partnership

Workplace Training Award

Advocate Insurance Group
Keller Williams Golden Triangle Realty Inc.

Bingemans
Lutherwood

Grand River Hospital
Workforce Planning Board

Young Entrepreneur of the Year Award

Benjamin Bach
Lina Shamoun

Paul Demarco
Kurt Wissent

Kandas Hilker

Congrats to everyone!

benjamin bach

Open House Weekend – Kitchener Waterloo Homes For Sale

Here’s another Keller Williams Realty Open House Extravaganza. We’re painting
the town red!

Please consider visiting these fine homes and tell the
Realtor that I sent you!

$215,000 ~ 33-12 Holborn Drive, Kitchener ~ Saturday Jan 10th 12-2pm
WOW! 1200 sq ft open concept condo in Stanley Park! 3 bedrooms, 2 parking spots. http://www.Kitchener-Condos.com for more

$259,000 ~ 85 Glenview Ave, Cambridge ~ Sunday Jan 11th 2-4pm
This great 4 bedroom home is nicely situated near one of Cambridge’s finest parks. Go to www.85Glenview.com for a visual tour.

$184,900 ~ 83 Mooregate Cres, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
A great investment opportunity! Only 7 years old, this 3 bedroom, 3
bathroom house is open concept, and a single car garage. All appliances
are included, close to all amenities. MLS # 0847317

$284,000 ~ 196 Vermont Street, Waterloo ~ Sat/Sun Jan 10th & 11th 2-4pm
Cozy, updated bungalow in desirable Waterloo location. Close to
schools, shopping and expressway! Great for young families and empty
nesters. MLS 0847302

$219,900 ~ 391 Lee Circle Waterloo ~ Sunday Jan 11th 1-3pm
Lincoln Village bungalow, finished recreation room, parking for 4 cars, newer vinyl flooring, eat-in kitchen, large shed. MLS

$339,000 ~ 23-545 Laurelwood Drive Waterloo ~ Sunday Jan 11th 2-4pm
Gorgeous bungalow condo, end unit with 9’ ceilings, gas fireplace,
hardwood floors in living room and dining room, double size deck,
professionally finished recreation room, sound attenuated common walls,
vaulted ceiling, inground sprinkler system. MLS

$249,900 ~ 325 Martindale Cres, Waterloo ~ Saturday Jan 10th 2-4pm
Quiet, mature neighbourhood. Large fenced yard, Close to Universities. MLS# 0844184

$340,259 ~ 590 Goldthread St, Waterloo ~ Saturday Jan 10th 2-4pm
Open concept, brand new home 3bed/3bath immediate occupancy Close to schools. MLS# 0834331

$549,900 ~ 557 Leighland Dr. Waterloo ~ Sunday Jan 11th 2-4pm
Custom built home with 4 B/R up + 1 down. Walk out basement with in-law potential. MLS# 0837624

$229,900 ~ 54 Tamvale Cres, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
Newly renovated semi on quiet crescent. Close to schools and shopping.
Walk out basement to stone patio and fenced yard. MLS# 0847365

$212,100 ~ 170 Coach Hill Dr, Kitchener ~ Sunday Jan 11th 2-4pm
Move in condition with 166 foot deep fenced lot and huge deck. MLS# 0844537

$444,900 ~ 348 Wyecroft Bl, Waterloo ~ Saturday Jan 10th 2-4pm
Priced to sell. Fabulous Beechwood home 4 bed/3 bath. Gardeners delight, waterfall and pond. MLS# 837856

$259,900 ~ 306 Westmeadow Dr, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
Brand new home. 3 bed/2 bath with Great room above garage. Immediate occupancy. MLS# 0844580

$298,000 ~ 40 Renner Drive , Cambridge ~ Sunday Jan 11th 2-4pm
Lovely open concept Hespeler home with walkout basement; Master bedroom
with walk in close and ensuite bath. Unspoiled basement; minutes to
401. MLS# 0847113

$244,900 ~ 50 Farrier Place, Kitchener ~ Sunday Jan 11th 2-4pm
Fantastic bungalow on quiet cul-de-sac with 2 walkouts; wood fireplace
in rec room with walk out to huge pie shaped lot; double drive, single
garage. MLS# 0847280

$264,900 ~ 15 Highpark Drive, Kitchener ~ Sunday Jan 11th 2-4pm
Fabulous bungalow on large lot with inground salt water pool; carpet
free; large rec room with bar and pool table included; 2 sheds, one
with hydro. MLS# 0841672

$270,000 ~ 1117 Copper Leaf Cres, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
3 bedroom, 3 bathroom home in Laurentian West. Finished top to bottom. Immediate possession available. MLS # 0911040

$229,900 ~ 209 Samuel Street, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
East Ward! Beautiful old world charm in desirable neighbourhood. Single detached 3 bedroom,2 bathrooms, recent finished
basement, updated electrical, plumbing, furnace and central air. Just move in!

329 Northlake Dr unit 9, Waterloo ~ Sat/Sun Jan 10th & 11th 2-4pm
Perfect for First time Buyer or investor condo, 2 Bedrooms 1 Bathroom,
one level, controlled entry, close to shopping, Transit and Highways.

$250,000 ~ 419 Rittenhouse Road, Kitchener ~ Sat/Sun Jan 10th & 11th 2-4pm
Finished basement. Gas Fireplace single garage.

$250,000 ~ 110 Weber Street South, Waterloo ~ Saturday Jan 10th 2-4pm
Huge master, rental potential, detached garage.

$500,000 ~ 27 Paul Ave, Roseville ~ Sunday Jan 11th 2-4pm
1/2 acre lot, 3,200 Sq. Ft. 4 gas fireplaces.

$310,000 ~ 606 Manchester Road, Kitchener ~ Sunday Jan 11th 2-4pm
4 bedrooms, hardwood throughout, Rosemont Gem!

$214,900 ~ 257 Snyder’s Rd E Baden ~ Saturday Jan 10th 11-1pm
Beautifully decorated 3 bedroom, 2 storey home, ceramic floor in entry,
kitchen and powder room. Hardwood floor in living room, awesome 156
foot lot!

–

If you’d like to see any of these beautiful homes, but can’t make the open house this weekend, email me or call me at the office – 519 570 4447

-

Kitchener Waterloo’s Favourite Real Estate Agent** wants to show you how Investing in Real Estate can make you wealthy and build financial freedom and security for you and your family. Benjamin works with people from all across Ontario, Canada and the world helping them build wealth through smart real estate investments.

Benjamin is a Sales Representative, and runs the Wealth Team at Keller Williams Golden Triangle Realty in Kitchener Waterloo.

He’d love to answer any questions about buying, selling and owning a residential, or income & investment property in the greater Waterloo region.  To start on a plan to invest, email Benjamin today.

You can reach Benjamin at Benjamin(AT)BenjaminBach.com or call him at 519 570 4447

**Gold Award, Kitchener Waterloo Record Readers Select Awards 2007