All Forum Posts by: Julie Toh

@Mike Hamson Put your knowledge of residential financing aside - Commercial lending is a different animal. Unlike residential mortgages, commercial mortgages have a minimum DSCR that drives the loan decisioning. Commercial lenders use lower lending value to mitigate risk - you may have an appraisal completed but they determine the value.

@Oyinda Oyetunde Welcome to the BP forum. What are the "better perks" from credit unions that you know of? Financial institutions like credit unions must adhere to mortgage guidelines. I am a mortgage broker that works in both BC and Ontario, and I have relationships with multiple lenders and I have never come a credit union that has "higher interest rates or added fees" mentioned by @Steven Leca. He may be referring to non-conforming mortgages that carry a higher pricing. There are many ways to find out what is your affordability; You can speak to a bank employee or use an 'express' service like online form. I recommend you build a relationship with a mortgage broker that can educate / advise you of your borrowing power and what you need to do to take the next step. Best wishes.

@Alex Carpio You wrote, "But fear is just False Evidence Appearing Real..." So good! 

@Alex Carpio Welcome! I'm glad you found BP. 

I want to commend you, first on posting your question and more importantly for engaging with the person who responded. I've been contributing to this forum since 2015 and often (too many times to count), I see someone post a question and then they seem to retreat into the dark. They don't engage or acknowledge the feedback. I'm not sure what was the point of posting a question. This is a forum after all. Engage!

My operations process is quite similar to that of @Kevin McGuire 

Your question, "Any specific business card perks I should be shopping for?" Not so long ago I came across a credit card that gives a generous cash back for home renovations related products and expenses. Maybe you know of this already? Cheers.

BTW. Appreciate the DM, thank you.

@Ryan Hampton HELOC is often an under-utilized financial tool. To have the mindset of an investor is to leverage equity to generate wealth, of course, you got to calculate your risk and know your risk tolerance.

@Mike Eichler I bought my first at 21 but you beat me to it. Good on you for pulling the trigger at 18. Where will you invest next?

@Krystle Tavernier Congrats on being duplex owners. The two options mentioned @Logan McKay Zylstra makes sense. 

Slow and steady wins the race in REI.

@Victoria G. Welcome to Biggerpockets. Meeting like-minded people with a passion for real estate in Utah could help you build a team fast before your next deal. All the best.

It is said that real estate is the least volatile investment and it's proven true in my experience. Buy, hold long term, leverage and scale. 

@Ashley D Moore This quote is good advice for investors. "Don't wait to buy real estate, Buy real estate and wait."