All Forum Posts by: Keith Cox

Hello Team.

My wife and I have been looking at multifamily investment, weve come across a few 6 plus unit buildings with below market rents and good potential, however, we cannot get that sweet CMHC 85% LTV, low interest money as we do not have net worth beyond our cash money, can anyone point me in the direction of any lenders that would work at 80%LTV ? Otherwise we will have to keep hunting triplexes and fourplex, as the financing is easy and inexpensive but hard to find in our areas of choice (North Okanagan, Kamloops).

Any help or advice would be well appreciated!

Keith

Hi Devin,

I do appreciate this advice; I will touch base with RBC. 

Thank you for the replies; my broker had this out to 11 lenders as, in his experience, a residential loan can be done up to 6 units, however, location comes to play and this is a community of circa 5,000 and this may be the limiting factor. 

Upward on onward.

Keith 

Hello everyone .

I am struggling to avoid a commercial loan, my local broker is not having any luck with a residential loan (he has 2 lenders that are still looking) on a 5plex and the fees are so that a commercial loan looks unprofitable, however, there is much room for optimization of the income with this particular complex. Any suggestions or has anyone come across this situation? 

Any help is appreciated.