Exit_small

As a mortgage broker the worst question to get asked is “what’s the best rate you can get me?”  When you shop for rate alone, you are unfortunately missing the bigger picture!

Let’s look at why this makes a difference when purchasing property in Canada and the US.

When you buy in Canada rate might be a good focus for you, because there are so many lenders competing on rate alone and with the high property prices rate is the main focus, because it indicates in many cases whether we can cash flow or not.

Continue reading

New Mortgage Rules

Last week we were all taken aback when the Federal Government released the latest round of mortgage rules. It was not just one new rule but four new rules and it could certainly impact Real Estate Investors to name just segment.

By now we as professionals have all had time to process the changes, blog about it and even bitch about it! We need to take a step back, put things into perspective and focus our efforts on the consumers, who are our clients and potential clients.

As a mortgage broker, I focus on investors and many of the investors I work with, focus their efforts on pre-construction and rent to own to name just two methods. In light of the new mortgage rules, I wanted to discuss how they might impact real estate investors investing in these two particular areas of pre-construction and rent to own.

Continue reading

ID-10056041 copy

As a real estate investor I dreamed of having a horde of rental properties but with prices where they are, down payment requirements, land-lording issues in some cases and finding good deals, I turned instead to private lending.

I liquidated my last property after completing two Rent-to-Own deals but have kept my Four-Plex as it is a JV deal that is too good to get rid of plus it keeps me in the game so to speak.

At this point in my life, I am looking to put more focus on my retirement goals and initially I thought I could do that by having rentals, however I realized that I like the low-key approach to investing rather than looking for great deals, trying to find partners with money and chasing down tenants for rent.

Continue reading

ID-100349179 copy

Depending on whom you speak with there are many ideas of how to build a retirement nest egg. I have a specific plan for retirement that includes real estate. While many people still believe the stock market is the safer way to go, I decided long ago it was not for me.

For one, I did not want to invest and pay fees and for two I did not want to invest in the stock market, where I had relatively no control.

Continue reading

ID-100150963 copy

When I started out as a real estate investor, I thought that if I had the money and found “a” property, it would be easy to make money. I soon came to realize that there was so much more to be aware of – like finding the right property and knowing the right time to buy the right property. I thought that if I “timed” the market right that I would find a tenant quickly and life would be easy. Was I completely wrong? Well yes and no – let me explain!

Continue reading

analyse

I recently worked with a first-time investor. He was referred to me by another investor client I have. He had no idea of how to start investing, what type of investment he wanted to do or in which area he wanted to start investing in. He had done the meet-up groups, signed up for various courses given by other investors, read many books and even spoke to other mortgage and real estate professionals, but he was still stuck on how to proceed. He was what we call in “analysis paralysis”. Continue reading