It’s not very often that a home like this one comes along, in fact in our Real Estate career we haven’t ever seen one quite like it. The builder built the home for his own family and unfortunately a change in circumstances means you can now take advantage of this lovely home.  Built with ICF foundation, in floor heating in the basement, natural stone fireplace, granite kitchen, and the most amazing wood floors you are likely to see anywhere. With real estate one of the key questions is ‘location’, and in this case it doesn’t come much better at this price point. Across from Lake Simcoe and with deeded lake access this home is in an area of lakefront homes with many $1mil + homes across the road.

To schedule your private viewing with this truly amazing home give us a call today  705 252 7939

We are delighted to present for sale a large executive style home in a popular south east sub division of Barrie. This home has been measured by us at over 3200 sqft above grade with the potential to add further space by finishing the walk out basement. It does require some TLC with probably new carpets or hardwood flooring. The home consists of 4 bedrooms, 3 full bathrooms and one 2 piece bathroom, family room, living room, dining room and an office. The rear yard faces south and because the home is slightly raised to the land behind it takes full advantage of the sun. Similar models to this one have sold along the same street for $30k or so more so there is potential to bring your own design talents and create value. The Barrie real estate market is very busy right now so don’t delay. If you would like to book a showing on this home call us asap.

Tel: Ian or Caroline Hocking, Sales Representatives, 705 252 7939

Paul Hecht, monthly columnist for Canadian Real Estate Wealth Magazine and the Best Selling Author of “Everyday Real Estate Millionaires™: How Average People REALLY Do It” is hosting his three-day, live weekend training event at the end of March in Toronto where he shows everyday Canadians how to invest in real estate (using the same strategies that made him a millionaire).

The event is sponsored by RE/MAX West Realty, Canadian Real Estate Wealth Magazine, Mark Weisleder (Author, Speaker, Lawyer and Columnist for the Toronto Star), Centum Streetwise Mortgages and ourselves. George Dube from Dube&Cuttini will be speaking on “Structure your Assets, Save Taxes: The Inside Real Estate Story”. For those of you who don’t know George he has published several books on real estate investing and is co-authored with REIN.

Leading up to this weekend event in March, Paul is offering a free two-hour presentation. There is no cost to attend and seating is limited. Most of Paul’s events fill up quickly so you can either register online atwww.RealEstateLiveTraining.com/wealth or call 1-800-217-8501.

Up coming listing. Very large 4 bedroom house in south west end of Barrie, will need to be repainted top to toe and new carpets etc. Kitchen could use a make over but for the right person this home will offer a great space on a child friendly court. Rear yard is stamped concrete and salt water pool. Price point likely around $325k-$335k. If you want more details  let me know and as soon as we have a few details firmed up we’ll let you know.

bedrooms and two full bathrooms. One of the bathrooms has been recently fully renovated. The upper level also provides a good sized living area and galley style kitchen that leads to the side door access and basement.The present owners have mostly finished the basement with a bathroom and electrical being completed. The basement has the potential to be turned into a second suite with the correct approvals from Orillia Town. The zoning allows for a duplex and the layout of the home would suggest that this would work. Anyone contemplating a duplex should enquire to the Town of Orillia planning and zoning departments to verify requirements. This home has also had a recently added high efficiency furnace to ensure lower heating bills. If you would like to view this home or know someone who would please give us a call at 705 252 7939.

I just couldn’t resist it. I’m posting the below in pure recognition of a couple of masters at work. This is pure genius, turn the volume up, grab a coffee and please enjoy,  Ian

Hello all,

The Hocking Homes team at Royal LePage First Contact Realty is delighted to present for sale a lovely south end Barrie Home in a popular child friendly neighborhood. This home has been exceptionally well cared for by the present owners with a newer deck (2010) across the rear of the property. The home is located within walking distance of the local elementary  public and french schools and is also just a short car ride to the popular Zhares shopping centre and other retails stores, banks and public library on the corner of Big Bay Point road and Yonge St.

The home consists of 4 bedrooms, living, dining and family rooms and a double car garage with inside entry to a main floor mud room with ceramic flooring. The main floor of this Barrie Home has hardwood and ceramic tiles combinations and the main floor also benefits from the spacious 9 ft ceiling heights. On the rear of the home you will find the newer deck installed by the present owners in 2010. This large entertainers deck extends across the whole rear of the home providing good outdoor space. The home does contain 4 bedrooms and two full bathrooms on the upper floors and we are delighted to say that this home is absolutely spotless. For the handy man the basement is currently unfinished, however, it does have a full walk out basement to the rear yard that is laid to grass. 

In all this is a lovely family home in a good south end neighborhood. The sellers are being very accommodating and could manage a quick close if that was required by the buyer. Please give us a call to arrange your private viewing or if you know someone you think would enjoy this home please pass along our information. 

Ian & Caroline Hocking

Sales Representatives

Royal LePage First Contact Realty, Brokerage.

When you are looking for Barrie real estate for investment purposes, and you are having trouble borrowing money from the bank or other financial institutions, you may have to consider other options. For some, these options might include not getting their ideal house or investment property. For others, they may contact a private lender. Should the lender feel interested and believe that the venture is relatively safe, they may lend you the money. Why might the bank not lend you money, even if the investment is sound? Well it comes down to two main factors; 

1. Traditional high street banks count ‘doors’. A door is literally how many units plus how many single family homes do you own, so if you owned a single family home that you didn’t occupy yourself and a 4 plex multi residential building that counts as a total of 5 doors (a 4 plex counts as 4 doors + the single family home). Most banks have a limit on how many doors they will lend you personally and that number can range between 5-10 for most of the major lenders. Irrespective of your own personal credit, hit the magical number of 10 and you may run into a road block. It’s possible that by gong to the commercial side of the bank that you may be able to work out some deal but if that fails then read on!

 2. If you are purchasing the home in your own name the bank will allow a certain amount of the income generated from the investment towards your income increasing your debt ratios and therefore allowing you to borrow more. However, the bank doesn’t usually allow more than 50%-70% of the income generated so sooner or later the ratios fail and you are stuck.

There is of course your personal credit, if that isn’t up there, the chances of doing very much in the way of investment real estate is going to be limited.

So are there alternatives to investment real estate borrowing?

Borrowing Money Privately – Documents Needed To Close A Barrie Real Estate Deal

Promissory note

A promissory note is one of the papers that you will need to sign in order to obtain a private loan. It is the agreement that has been reached by both parties and is considered a legal obligation once signed. The note contains important details about the transaction for both parties. You will have to pay back the amount loaned and interest in the time stipulated on the note.

Private Mortgage

This is another document included that ensures that you live up to the agreement and meet the required deadlines. The word ‘Mortgage’ comes from the Spanish word of ‘Death’ hence ‘Mort’ literally means , ‘until death’. You are borrowing the funds until you repay them or until you die, whichever comes first. This is known as the mortgage and usually lists the Barrie real estate you are purchasing as security in the event you fail to make your payments. Your estate is responsible for repaying the debt in the event you die.

A few things to consider including in the note if you are buying a house through a private lender are:

A substitution of collateral clause

The substitution of collateral clause means that should you wish to sell the property before the note has been paid off, you may substitute another property or asset of equal value. This means that if you are unhappy with your purchase, and wish to get rid of the investment or dwelling, you will be able to under the substitution of collateral clause. This is, providing you have the collateral.

Prepayment Clause

The prepayment clause is something that is very important in terms of paying off your loan and saving money. Over years of paying the money back to your private lender, the interest will amount to thousands of dollars. Having the prepayment clause included means that you can pay the note off before full maturity of the loan and save a lot of money in interest charges.

Insurance

You should include both the buyer and seller when you are looking for insurance on your Barrie real estate property. The policies should be separate with an owner’s title policy and a lender’s title policy.

Disclosure Statement

Another thing that you should include in the agreement is a disclosure statement. This statement basically informs your lender of your exact intentions for the property.

Seek Legal advice !

As with all legal documents, understand them before you sign them. Obtain legal advice before you sign anything. ‘Second mortgages’ and or ‘private mortgages’ typically come with higher interest rates then normal. A ‘First’ will typically cost between 7-10% and a ‘Second’ mortgage around 12-17%. You should understand what you are signing BEFORE you sign it.

When you are looking for an investment Barrie real estate property, but are unable to obtain a loan from a financial institution, you may want to consider going through a private lender. The promissory note, mortgage, insurance and the note’s contents and clauses are what protect you and the lender from being cheated out of money and keeps everything legal and binding. However, we aware that it also protects the Lender so ensure you know what you are signing.

The Hocking Homes team does work with many investors in the Barrie real estate market and we have access to the right mortgage brokers who have access to private money. If you are in any doubt give us a call.

Ian Hocking

The Hocking Homes Team at Royal LePage First Contact Realty, Brokerage.

705 252 7939

We have just listed for sale a renovators dream! A traditional century re brick farm house located outside the village of Baxtor in Essa Township. The property consists of approx 1 acre of house, pool,and detached double car garage with workshop. The home itself needs TLC and some vision. The current layout is likely not optimal and could be reconfigured to a better design. The main structure appears to be in good shape for it’s age, although the property will need a new roof soon. Internally is where the vision needs to come in but it could offer you a great chance to stamp your own mark and bring this home back to its former glory. If you are interested in taking a look at this home or other DIY fixer uppers in the Barrie real estate area then give us a call and we’ll help you work out the numbers.

Tel the hocking homes team at 705 252 7939