All Forum Posts by: Cora Hunchak

Thanks Stevo. Yes, that all makes sense and is how our mortgage broker has explained it to us as well. 

we may have to go the route of finding a co signer possibly. Or  just continue to save $$$, for a bigger dp.  

Or maybe do something in a partnership with someone! We work in construction, so we can do all the work and we can also bring funds. I also excel in design/ decor... so we have a ton of skills to offer a partner. That may be the next step! 

I have two properties, 4 doors. Two of them are str, and 1 is long term. I live in the other.  The idea is to rent out the space we currently live in and move into another space which we plan to renovate and house hack. 

Im recently self employed. Husband still works full time. 

Mortgage broker is good, but one of the str's hasnt been running for 2 years yet, and she said banks hate str as considered income so when she runs our numbers (income), she runs MARKET rent on both str's which is far less (1/4 of actual income) .  Therefore, she is saying we cant get another mortgage for the properties we are looking at which are around the $600,000 mark in my market. 

our 2 properties are fully renovated and have a good amount if equity in them. 

we also have the cash for a 20% downpayment and then would have cash for renovations, but we dont really want to have to put down more than 20%.

FEELING stuck.  What would you guys do? 

Hey guys! Im located in Penticton. Would love to join a meetup sometime! Even if its just a few of us, that could be great.  Currently just house hacking my home, but really wanting to invest in a rental or a flip. Also, considering long distance investing. 

May I ask where Canadians are finding deals? Are you just working with realtors and they are calling you before posting on MLS? I have been mostly just using MLS to look for deals, but this seems frowned upon.