All Forum Posts by: Lisa Lavie

 Thanks a lot Siraj... I have yet to get into MF units but definitely want to do so in the near future. Good luck with your investments. Any info you want to share, I'm all ears heheh :)

Thanks so much @Pamela Barentine ... I was apprehensive about the deal actually going through but everything lines up perfectly. Feels great! :)

Thanks so much @Kevin Darrell @Jamal White :)

 Hey Nathan...Thanks a lot! A lien was places on my 2nd property in the event that I wouldn't pay for this property, they could then force me to sell my 2nd property to pay for the property I'm delinquent on. I didn't have to pay more on my 2nd property & anything on my 3rd, it's just a lien set in place in the event that something goes wrong on my end but both places are rented & all of the extra income that I have coming in every month stays in their respective bank accounts. I never use that cash flow, I keep in there for a rainy day. :)

The interest rates in Canada are historically low at the moment. I'm locked in for 5 years at 2.64% & I didn't have to pay any premium for the full financing. :)) So happy!

@Jason B. :) Thank you

@Daniel Schulman Thanks a lot Daniel! So I purchased my 2nd property 10 months ago. It was a foreclosure. I bought it for 161K but the municipal evaluation on the property is at 228K & I also put 20% down on the property, so there was enough equity to be able to put a 20% lien on this property. I honestly didn't know this was an option for me but the bank I deal with is awesome & they offered me that option. :))

@Meghan Reed Thanks so much! :)

@Craig Bellot Hey Craig, thanks! I'm constantly looking at properties & being patient until the right deal comes along. Everything fell into place perfectly for this deal. It was only on the market for 3 days but the owner wanted to seal the deal right away & we worked it out. I knew that if I didn't jump all over this place that it was going to be off the market in a matter of days, so I made an offer immediately & luckily it was accepted. :)

 Hey Connor, Thanks a lot!

I have a unique situation being that I'm a Canadian citizen but I do a lot of work in the states.  So far I've only invested in Canada so I don't have anything to compare it to but I hopefully will in 6 months or so I will hehehe! :P I currently live in NYC but I'm always keeping my eyes open for great deals in Montreal. Miami is somewhere that I'd also like to focus on. 

Financing differs in Canada... normally the term of the mortgage with the bank is for a 5 years period & then renewable afterwards which could be a good thing or a bad thing. For the property I just purchased it was great because I purchased the property when interest rates are historically low. I'm locked in at 2.64% for the next 5 years. What the interest rates will be in 5 years though is another story & no one really knows, however for the last 4 years the interest rates have stayed steady around the 3% mark. 

Currency is in my favor at the moment seeing that I make most of my money in the US, so when I transfer it over to my Canadian accounts, I come out ahead again that could change but for now, it's awesome.

other bits of info:

*In Canada the total term of your loan is 25 years, not 30 years like the US. It use to be 30 years but that was changed in 2012.

*US citizens investing in Canada have to put at least 25% down

*In Canada when purchasing your first house, you could get away with putting only 5% down on a property, when purchasing a 2nd home as an investment property (that you won't live in) you're required to put down 20%.

Hope this helps answer some questions! :))

@NormaJean Cupp Thanks a lot Norma... I'm definitely starting to get a feel for everything. Even with 3 houses I'm still a newbie but I'm learning everyday & I'm so excited about future projects & learning as much as possible. Sky's the limit!~ :)