All Forum Posts by: Jacob G.

I have heard some horror stories where tenant scoops cat poop from litter box and just flushes it in toilet causing clogged toilet down the road.. I guess there's always horror story for anything.

I highly recommend Jason Flemming of CIBC.

He understands the real estate investment game and very objective. He made my life easier on my 3rd purchase.

Following!

As far as I know, home equity line of credit can be used as a downpayment (or to top up your capital). Lenders will put your property as a collateral which gives them good leverage. However, unsecured line of credit cant be used. I have yet to speak to some mortgage brokers to see what they can offer. It will be ay higher interest but im interested in what they say. Im sure theres a way to do creative financing around this. 

**i sent you a private message on facebook!

HEY from TRURO, NS here too ;)

Totally agree with Jeremy's comment. 

Also, you can use home equity line of credit (Heloc) or Homeline plan. 

This is a good alternative if you don't want to pull out equity on the home's after repair value. This will keep your mortgage payments the same. However, Heloc or homeline plan comes with interest which is around 4 percent give or take. If you do the math right, this is another zero out of pocket down payment for your next home. You just have to make sure the cashflow can also pay that line of credit on a certain term. Some banks or lenders can offer payments like a mortgage for that loan,, or you can manually strategically pay it yourself.

My 2 cents too..