All Forum Posts by: Lisa Lavie

 Absolutely, good luck with your future investments :)

Originally that wasn't the plan, I was going to put down 5% on the property but the person I dealt with at the bank offered it to me. I couldn't believe it. The bank I used is a regional bank in Quebec but they also have a presence in Ontario. In Canada they make it pretty difficult for you to get a loan, they're not so easy. I had a hard time on my 2nd property due to the fact that I filed my taxes in the US for so many years because I was residing there. They wanted to see at least 2 years of tax filings in Canada & I only had 1 year at that point. Literally every single bank turned me down. This bank at the last minute saved the day heheh :) and of course for this property I went right back to them.

Thanks so much @Nancy Brook. I really appreciate it :)

 Thanks Christopher. On my 1st property I went through the bank as well however I put 10% down. On my 2nd property I put down 20%

@Courtney Merricks Thank you so much! :) I can't wait to try my hand at a property near you in Miami.  How are things going for you in your area?

 Thanks so much David. I really appreciate it!!! :)

 Thanks so much Bob! :) Yes, I keep cash reserves for all of my properties. Also all of the cashflow that I receive every month from these properties stays in their respective accounts. I never use a penny. I prefer keeping all of that cashflow in the event that something needs to be fixed or if I have a vacancy for a period of time. :))

If no money came out of my pockets including any closing costs at all, I call that no money down. Nothing changed with my interest rates & I'm not paying any higher on my 2nd property. Normally when you refinance a property, that reflects in your mortgage payments. This is simply a lien.

 That's awesome Cal. Let me know how that goes for you. I wish you the best of luck with everything!!! :)

I didn't refinance my 2nd property, they just put a lien on it in the event that I neglect paying the property, they would be able to force me to sell my 2nd property to pay for the 3rd. however nothing changes with my 2nd mortgage, I'm not paying a higher payment, interest rates didn't changed. It's still no money down the way I look at it.