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Updated about 9 years ago,
Breaking Door Barrier in Canada - Any Tips?
I'm an investor in Surrey, BC. I've hit the classic 'door barrier' (I'm at 6 buildings and 18 doors plus a principle residence by a combination of bank mortgages and LOC funding. I'm in no rush (I have my plate full in the short-term improving what I have), but in the next year or so I'll need to break through the door barrier if I want to meet my long-term goals. I'm wondering if there are any Canadian investors on the forum that have broken through, and how. Private lenders through mortgage brokers or directly? Commercial bank specialists? Credit Unions? Wait, digest, and pay cash? Refinance (and if so, how?).
Also, I'm not sure if any lenders here do portfolio loans. If it helps, my current interest is small multifamily to buy, repair and hold. I want to start to learn, network and ready myself for the next level so I'm well prepared.