All Forum Posts by: Ronald Quaroni

Hi Karen.I'm not sure what rates they offer but CMLS financial does multi-family lending. Shoot me a message and I can pass along my contacts information to you.

@Katie Willcox I've noticed in my business if the application is easy, intuitive and user friendly people are much more likely to take the time to fill it out. There are lots of online resources for survey creation. 

Hi Katie. I'm also from Saskatchewan. Chatting first-hand with clients who are renting in very small centres (less than 600 people) it always pays to wait for the right person. It's never worth getting the wrong tenant in your property and it cause you lots of headaches.

I might suggest supplying the questionairre form in a more user friendly format and you might even consider offering some sort of incentive for the filling it out. Best of luck!

Is there any reason you're looking to put 20-30% down? If you are occupying the property it can be purchased as a primary residence and you would only need 5% down. You could deploy your saved capital for renovations or other purchases down the line.

Hi Khadija, are you going to be residing in the property with your friends? 

Great topic Elijah. Something that might scare investors away is the access to traditional funding in smaller centres.

Some lenders in Saskatchewan are hesitant to go outside of Saskatoon and Regina, with very few or none willing to go into towns below populations of 10,000.

Low housing prices, surprisingly enough, can also be an issue. Lenders have minimum mortgage loan amounts. In your example a single condo for $35,000 is something only a credit union could do to my knowledge.

I these things scare lots of folks off. But, as you mentioned if you can pick up properties outright for very reasonable cash offerings or find away to get them financed I think the cashflow is really excellent in a lot of these places.

Low interest rates: I follow George Gammon on Youtube. He has some pretty interesting insights. From my understanding the rise in home prices can be mostly attributed to low interest rates and governments backend buying Mortgage Back Securities. This allows banks and lenders to package mortgages and offload them.

There's also a tremendous psychological factor at play. People are searching for certainty in their life right now and a lot of home-buyers who were "waiting for the right time," went ahead and bought.

I think we're likely going to see a continuation of low interest rates for at least one more year. This coupled with all the people who waited to list because they didn't want to move during the pandemic. 2021 could be as busy or more than 2020. Just my two cents, let me know what you think.

Hi Trenton, how big is the rental unit? Would you consider living in one of the units? Lenders want to see 20% down at least for rental properties. If it's your primary residence however you can put 5% down.

Depending on your situation, you could convert your current living space into a rental and move into the new space and make it your primary residence (depending on the number of units).

@Christopher H. what types of property are you seeing perform well? There seems to be lack of residential single family homes on the market at this point.

Just out of genuine curiosity which Canadian city has good investment returns in the current climate (February 7, 2021). I have friends in Ontario who are looking at building houses because the rental market is too hot to get into.

Is this a trend that anyone else is seeing?