All Forum Posts by: Brook Azezew

Thank you Ron.  I actually reached out to TD today and I was able to get a verbal approval for a mortgage (pre-qualification).  They said it will take them a few days to do additional verification for formal approval 

Thank you John. 

I will reach out to them. 

Hi,  I am trying to purchase of a rental property near Orlando, Florida.  It is a single family home in good condition ready to be rented.  The purchase price is US $75K and I have down payment for it.  I reached out to the US division of RBC for mortgage but they said they will not be able to give me mortgage in US because, I have an existing mortgage here in Canada.  I am looking for ways of financing this deal.  They deal will have a decent cash flow with up to 7% interest on the mortgage/loan amount.  Does any one have a recommendation on how I can finance this purchase?

Thank you  

@Haseeb Awan

Thank you for the advise. Of my properties in Toronto, both are cash flow positive.  My plan was to use the proceeds from the sales to buy in ottawa.  Also, the properties in Toronto are condos and I wanted to get out of condos and own single family or multiplex.  

I live in toronto now and have a 2 condos I am renting now. I have a fulltime job and are new to realestate investing.  

I am moving to Ottawa and been thinking about selling my properties in Toronto and buying a multiplex (2-4) units or single family in Ottawa and rent it out.  I have a place to stay for relatively cheap.  Is it possible to have positive cashflow?  I know it was almost impossible to do this in toronto now just because of the high purchase price.   Thanks