mentor properties

Q: Can Mentor Properties help me achieve my financial goals?

A: In today’s real estate market, investors are typically given one of two options: they can buy knowledge without property, as evidenced by the proliferation of people selling real estate books, tapes, and seminars: or they can buy property without knowledge, as evidenced, for example, by the sheer members of people who invest in condos that don’t cash flow. At Mentor Properties, our policy is to provide the education for free, so that people can confidently evaluate our investment, and then decide for themselves what best serves their purpose.

Q: What can I expect from a Mentor Properties investment?

A: You can expect to own Real Estate that is:

Affordable
Well-located
Worry-free
Low maintenance
Potentially generating positive cash flow
Potentially generating more than a 12% average R.O.I.

Q: How can you offer people such great potential returns?

A: Our company was build by investors, for investors. Because we firmly believe in the value of win-win relationships, our primary focus is to offer exceptional potential returns for every investor we work with. And because we know our investors’ bottom line will always be the foundation of our company, every property we develop must meet our own strict standards - we’ve put our money on the line too!

Q: How much money do I need in order to buy a suite?

A: You’ll typically need a down payment of 25% of the total purchase price for any income property. Mentor Properties usually carries a large inventory of income properties around the $110,000 to $150,000 range, as this is where we can best meet our investors’ criteria of location, affordability, quality, and cash flow.

Q: What about closing costs?

A: Estimated $3,000 for closing costs to cover the land transfer tax, appraisal, lawyer and lender fees.

Q: Can Mentor Properties help me obtain financing?

A: Yes. Through an exclusive arrangement with Metro Credit Union and Duca Credit Union, we can help you obtain the best possible interest rates on a 1st mortgage for up to 75% of the purchase price, and on some investments, Mentor Properties will even hold a 10% 2nd mortgage to help you out with the balance allowing you to buy the property for only 15% down payment!.

Q: How do I qualify?

A: We can help you fill out a standard mortgage application, and then we’ll speak to our lenders on your behalf.

Q: What are the current prices, rates, terms, etc?

A: Refer to our Current Opportunities section for detailed investment worksheets

Q: What happens if mortgage rates go up? Can I still get positive cash flow?

A: We currently recommend locking in for a 5 years term. Your future cash flow can only be projected, and depends primarily on how your deal is structured at your time of purchase. Our Managed Asset Program ensures the safest, most reliable returns.

Q: What is the Managed Asset Program (M.A.P.)?

A: Mentor Properties’ exclusive Managed Asset Program is an optional support package to help investors earn maximum return with minimal risk. It offers 3 levels of support ranging from simple investment updates, to comprehensive, income, tenant, and property management.

Q: Can I manage my own property?

A: Yes. Our job is simply to make the support available to you.

Q: If I choose the M.A.P. option, how can I be sure the property manager will actually look after my unit?

A: Every Mentor investment includes an on-site professional property manager who is legally obligated to protect the owners’ interests. This is done by managing both tenant and property concerns, as well as administering the Rental Program component of the Managed Asset Program. If the Management team doesn’t deliver, they don’t get paid.

Q: Who manages the property?

A: Each unit is professionally managed by an independent management firm, and all building operations are overseen by an appointed Board of Directors.

Q: What expenses am I responsible for besides my mortgage?

A: Monthly maintenance fees & taxes. For more details refer to the Investment Worksheet.

Q: What are the risks of buying real estate today?

A: Unexpected vacancy rate could lead to lower rents, interest rates that rise in excess of projections, poor building or tenant management.

Q: I’ve heard that real estate is at the end of its cycle - How do I know prices won’t come down?

A: While property valuations always increase more in some years than others, the overwhelming evidence shows that real estate is by far the safest place to put your money, especially with appreciation alone consistently outperforming all other investment vehicles. For more details refer to our Why Real Estate section. At the very least, think five years ahead instead of one.

Q: How do I monitor the performance of my investment?

A: Annual or monthly statements can either be mailed to you directly, or posted privately for you online.

Q: How do I exit from my investment?

A: You can sell your suite the same as any other real estate-put it on MLS, sell it privately, whatever you wish.

Q: What’s the difference between a Condominium and Co-Ownership

A: A condo provides for ownership of an individual suite in a building, with shared rights to the common areas. A Co-Ownership provides for shared ownership of the entire building, with exclusive rights to each individual suite

For more details refer to the Typical Investment Comparison.

Q: What about tenant issues?

A: The legal rights of tenants are safe-guarded by provincial and municipal by-laws which all property owners must abide by.

Q: Why does Mentor convert existing buildings?

A: Because Mentor purchases the entire building, we negotiate a favorable “bulk” price. After completing the planned renovations we do not sell it to one BIG investor. Instead we execute the conversion ourselves (no middle man) and offer the individual suite to individual investors at below market prices.

Q: Whose responsibility is it to pay for repairs, maintenance, utilities, etc?

A: The fact is if you own it, you’re ultimately responsible for it. However, our Managed Asset Program is designed specifically to alleviate your concerns and maintain a worry-free investment.