Help with mortgage. Use big 5 banks or Commerical.

[Jaydon H.]

Hello, my business partner and myself are looking for some advice from experienced investors. To give a brief background about us, we each currently own 3 and 1 rental property in our own names. We each now have a holding company and also have a joint corporation that is owned by each of our holding company’s (50% each). We have purchased an out of province rental property and looking to see what is the best option for us to put a mortgage on the property. We are purchasing the property with cash and will be doing a brrrr 1-2 months and then putting a mortgage on the property. We have heard options of putting the mortgage under one name and using a big 5 bank (this will allow us to get 5 properties each under our own names, if 5 is the max allowed) or would you recommend using a commercial loan and purchasing it through the joint Corp? We are in BC and the property is in Saskatchewan.

Thank you in advance and if you need more info to answer the question I can provide that for you.

Jay.