All Forum Posts by: Susan Pearce

Following!

Thanks so much for your very thorough answer. I know the potential is there to utilize my equity to help others while helping myself. The plan is to do it without getting my butt in a wringer. LOL! The property is in Oklahoma. I'll follow your advice and do some investigating there. Your answer gives me specifics to consider and investigate. Thanks again! 👍

Thanks for taking a moment to answer this question. Do I have to be a certified lender in order to lend out funds from a HELOC? Own property free and clear, would like to lend offering interest only payments, max 6 month term. (Likely best for flips, clearly.) I believe it depends on the state you're in, yet am unsure if HELOC private lending would fall under the regulatory rules or no? Best way to set this up, if allowed? TIA!

Good overview between US/Canada, @Hai Loc. I'm still researching the US market, and have recently connected with a tax specialist familiar with both sides. I'm American citizen, and I'm also a Canadian citizen. I'm looking into the financing options south of the Canadian border and am quite amazed, for sure. VERY different!

I'm very interested in the concept of being a mortgage qualifier in the US to facilitate investors, as long as it's absolutely legal and done properly. I have no desire to occupy a tiny room in another piece of real estate that's supported by the public! LOL  Do you have any experience or knowledge in the area of using mortgage qualifiers for US purchases? I'm trying to find out more about the process/etc. Thanks in advance!  -- Suze

Cara, thanks so much! 

Thanks, Tanveer - I belong to Durham Region REI. Always interested in other clubs, though. The more networking the better.

Hi, Tanveer - I'm in Newmarket, Ontario. Newer BP'er here as well, U.S. ex-pat, and also a Canadian citizen.

What REI club are you going to in 2 weeks? Which club do you belong to? My husband and I are looking forward to some crossborder investing soon.

Hi, everyone - I've heard a lot about "mortgage qualifiers", and am wanting to know more. How does it benefit the person taking on the mortgage, exactly?

Thanks. :)

Nancy, that's awesome!  I just *snapped* this winter!!  I was driving around in late March, looking at giant snowbanks, and FLIPPED. LOL  I called my BFF who has family down in Corpus Christi, TX, and her niece and nephew are a property manager and realtor, respectively.  I got his number, and have been researching areas before making a decision.  I'm planning to give him a call/email this week.  We're headed down that way in August, yet I'm also looking around Ft. Myers, FL because I have family in that area as well.

Thanks, everyone - I'm looking in a more beachy, more high tourism area. @Roy, I'm looking in the U.S., not to purchase in Canada. :)  I'm a dual citizen, with most family down in the U.S.