Buying an investment property is a great way to build wealth. Your financing decision will have a major impact on your rate of return for this investment. Private money is more expensive than a traditional lender, though here are three reasons to use private money to finance your investment properties. Private lenders do not need to qualify based on your employment income. Traditional lenders use your income to calculate a total debt service ratio which limits the amount of financing you qua...

Obtaining a mortgage can be a long and complicated process. It’s important to get pre-approved before you start your house hunting journey. While there is no guarantee of financing, there is pre-work that can be done to ensure that the process goes smoothly. Three common reasons that I have seen why a mortgage can be declined or fall apart before closing. 1. Documentation does not match your story: The language of lenders is documentation. You need to provide a lot of documents to the...

Private mortgages are a type of financing that is provided by private lenders, rather than traditional financial institutions such as banks. Private mortgages can be used for a variety of purposes, including purchasing or refinancing real estate, financing an investment property, or consolidating debt. Here are a few potential uses for a private mortgage: Real estate purchases: Private mortgages can be used to purchase real estate, either as a primary residence or as an investment property. ...

Having a good exit strategy is crucial for anyone taking out a private mortgage, as it can help ensure that you are able to repay the loan and avoid default or financial distress. An exit strategy is a plan for how you will pay off your mortgage and ultimately "exit" the loan, whether that means selling the property, refinancing, or some other method of repayment. Here are a few reasons why a good exit strategy is important for private mortgages: Private mortgages typically have s...

If you want to know when interest rates will start to go down, follow Canada inflation reports. Inflation means that prices for consumer goods and services are going up. The reason they are going up is because consumer demand is higher than the supply of these goods. More people want things than are available. So, people are willing to pay more for the things that they want. In order to combat inflation, we need to increase the supply of things and lower consumer demand for things. Increasi...