Is it possible to buy a property with a foreign family member?

[Tjay Sharma]

I'm in my mid 20s and I'm planning to buy my first place to live. My income currently is 40k annually, have high credit score. However, with my income I will not be able to quality for mortgage for even a studio apartment in mainland Vancouver. Is it possible to get a mortgage approved if i buy the property with my father who lives outside Canada? If not, what are the other creative options we have in Canada for real estate investing? Ideally I'd like to buy house and rent out other units that would provide me some assistance with mortgage payments. Any feedback would be helpful. 

[Melanie Dupuis]

Hey @Tjay Sharma here is a couple of suggestions. You should look into owner/seller financing! They do not require as much pre-qualification as the banks do. Especially if you are purchasing an income property that has more 2 or more doors. You could owner occupy one of them and basically live for free! The other option that you can discuss with your lawyer and accountants are, opening up a corporation and making your father a sharholder. Then, purchasing the asset in that corporation. Just a few options off the top of my head.