Buying real estate in Canada is costly. In places like Vancouver you often need hundreds of thousands of dollars for a downpayment. How can anyone truly buy real estate for just $1.00? This has got to be a scam!
It’s not. We believe everyone should have the opportunity to invest in property in the communities they love, and we work with one of Canada’s top law firms to draft purchase documents, and file all paperwork to ensure compliance with securities regulations.
Here is how we do it:
- A corporation is created that owns the property.
- The corporation then sells its shares to the public.
- Those shares represent ownership in the company which in turn owns the property.
Why we can do it?
It’s actually always been legal to buy real-estate for $1.00. It’s just prohibitively expensive, so it doesn’t make sense to do it for small investments. At IMBY we are using both legal and technical innovation to make this type of micro-investment in real estate feasible.
Who can buy the shares?
That depends. For the 1956 East 13th property in Vancouver we are using an offering memorandum; so, almost anyone in Canada can buy the shares. However, there may be some restrictions on the amount you can purchase. That restriction depends on the province you live in, the amount of earnings you make, the amount of assets you hold, and it can even depend on whether you have a preexisting relationship with anyone the company’s executives or founders.
Note: We presently do not support purchases from the Territories, Quebec, or Saskatchewan.
Who regulates IMBY?
Canadian securities legislation maintains the highest level of integrity in its governing and monitoring of Canadian businesses. Like any company issuing shares in a province, IMBY is regulated by that province’s security commission. In BC it’s the British Columbia Securities Commission (BCSC), In Manitoba it’s the Manitoba Securities Commision (MSC), in Ontario it’s the Ontario Securities Commission (OSC), etc. Our offering memorandum and a record of investors is filed with every province where shares are sold.
Did you know?
You can cancel a private investment on IMBYx.com with no questions asked and at no cost to you within 48 hours of purchase. It’s the law!