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WHY-Small

When I started investing in real estate, I remember my coach saying to me “always start and end with your WHY. I didn’t know what my Why was when I started or why it even mattered, but as I gained more experience and started making passive income, I stopped to reflect on what my Why was and why it actually mattered.

Everyone has a different reason for getting into Real estate investing; for some they hate their job and want to pursue real estate investing to be able to quit their job; for others they love their job but just need a bit more month before the money runs out; and others just love real estate as a passion. However, no matter what the reason, they all start and end with their WHY!

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As a mortgage broker, I am lucky to work with investors and help them start and/or build their portfolio’s. One of my investors’ recently shared his experience of selling one of his properties and how Home Staging made a difference for him in standing out amongst the competition!

As a past home stager, I was reminded how sometimes we overlook important aspects of a property or have our eyes on the wrong things, when looking at all the options in the marketplace.

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Many real estate investors start out with a dream of owning many properties but ultimately, many things can sway the dream or the well-thought out plans, such as low inventory, high prices, low cash flow and the inability to qualify.

So you have money but can’t get the returns you want, or you cannot find a property within your budget, so how can you make that money work for you?  There are many different options available.

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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.

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Booya and the Government changes the mortgage rules again!

This past week the Trudeau Government took us all by surprise by announcing new mortgage qualification rules. The mortgage industry and the media have gone wild with speculation and concern about the future of our industry, but what does this mean for you and how do you navigate these changes going forward?

Currently in place, the Government has required homeowners with less than 20% down to qualify at the BOC rate of 4.64% for any term less than a 5-year fixed rate. Effective October 17, 2016, this requirement will apply to all insured mortgages, including fixed-rate mortgages with terms of five years or more.

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Deal Fell Apart

Recently I was approached to finance a commercial building in Hamilton, Ontario.

The property was a vacant and former rooming house and the clients wanted to transform it into a retirement home. The clients were a retired nurse and two personal support workers, all of whom had experience working with seniors, however they did not have experience operating a retirement home.

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I love real estate investing.  Over the last few years I have learned from many investors, which got me thinking about some of the successful investors out there – what separates them from the rest? I started to study these individuals and have realized that they all share the same habits and traits that make them successful investors.

Becoming successful at anything requires skill, determination, education, motivation and most of all a great desire to be great at that one thing.  Becoming a successful real estate investor is no different!  Thus these 7 traits have come to define many of the successful investors that I have studied.  For this post I have defined 7 traits but I am sure there are many more.

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This is not my usual mortgage article but I hope you will read on anyways. I am writing about how being a mortgage broker makes me grateful everyday!

I am an avid blogger – I love writing and sharing my knowledge and experience but that last two weeks have been a mental struggle for me. I finally stopped beating myself up and sat down to think why I was struggling and realized it was because I had forsaken my daily gratitude habit, because I have been so busy with work and life in general.

I have learned through various strategies, readings, courses that having the practice of being grateful not only brings peace into my life but the ability to focus and expand that gratitude into all areas of my life, including work and family.

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Wholesaling has always intrigued me but here in Canada the deals don’t exist here as they do in the US, so the same money that you can make in the US doesn’t always exist here. Furthermore, you can buy 2-3 properties in the US vs. 1 property in Canada.

This article speaks about investing as a Canadian but the same rules apply for any foreign investor!

Not knowing much about wholesaling, I dove into researching different companies in the US and also spoke to various wholesalers, who I am very grateful to for sharing their knowledge and experiences.

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