Hard money in Canada, ontario

[Andy Welmers]

Hard money seems fairly readily available in the US. Is hard money / the availability of hard money different in Canada, specifically Ontario?

I am researching as much as I can, and am starting to go out to look at a few properties in my local area (Ottawa) in order to start evaluating properties as best I can. I am looking for asset based lenders (private or hard) willing/able to fund 100% of the purchase price of a home, and I would fund the rehab (BRRRR).

Thanks,

Andy

[Matt Geerts]

Andy, there are HMLs on Kijiji.

However. If you have money for a renovation, then use the money for a down payment on a purchase plus improvements mortgage.

The bank will require that you have all of your renovations planned and quoted, but you should know all that anyway before you jump in. At least this way you can't find yourself out of reno money and trying to pay for a high interest loan.