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22 January 2025 | 5 replies
[I think someone else provided an example of this case earlier]-Now provided you do qualify for purchasing a house (4 units or less), you will have no problem qualifying for a mortgage with a Schedule 1 bank as long as you provide the down payment (35% minimum of purchase price) and confirm proof of fund and the source of it- On the proof and source of funds, the banks would want to see an income enough to cover the mortgage payment and other expenses. and in some cases, they would want to make sure they know how you're going to cover your expenses (housing, heating, etc..) where you live.This is usually where it gets annoying for some folks but if you can satisfy this, you should be able to qualify for a mortgage just likely any Canadian tax resident, albeit you will pay a little more in terms of interest rate, etc.
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7 February 2025 | 6 replies
Do companies usually have the workaround?
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21 January 2025 | 6 replies
In our experience, the #1 mistake landlords make when selecting a Property Management Company (PMC) is ASSUMING instead of CONFIRMING.
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30 January 2025 | 56 replies
It is great to see what your company is doing in the Milwaukee market!
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20 January 2025 | 3 replies
Quote from @Jonathan Glumac: I work for a MF Development Company in Texas and I want to get my realestate license.
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9 January 2025 | 9 replies
I know when you make an offer you typically specify how you plan on funding the deal.
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4 February 2025 | 3 replies
I have a few companies I work with to lease units for their workers and I don't want to charge them fees - and I certainly don't want to auto email them anything.
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23 January 2025 | 5 replies
Most lenders are going to be limited to 70% of ARV ($560,000 total loan amount) but that means they could fund 85% or a bit higher of purchase price + rehab ($560,000/$645,000 = 86.8%), which is solid.
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16 January 2025 | 11 replies
If leveraging equity feels too risky, you might consider using a portion of the equity to fund your next property while keeping reserves intact.
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22 January 2025 | 14 replies
I use one of the most expensive snow removal companies in town for a 16-plex that has 240 linear feet of sidewalk and 10,000 square feet of parking lot.