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20 January 2025 | 4 replies
Do you think this issue is specific to banking services or what do you think is the root cause?
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21 January 2025 | 0 replies
My question is: How do I properly take the interest that my LLC has put into the new LLC and give it to my person for the purposes of getting a loan from the bank through a refinance.
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20 January 2025 | 6 replies
He is looking at a group of investors like myself to bring 25% of the project value and then procure a bank loan for the remaining 75%.
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13 February 2025 | 95 replies
I'm doubting you teach "real estate", meaning from A to Z, I'd even go along if someone didn't teach about links and chains or that a lot line can be from the center of a river not the banks of the river.
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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 | 13 replies
I’d never had more than $2,000 in my bank account up until this point.
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16 January 2025 | 5 replies
We're also starting to scour other forums for possible investments outside the traditional MLS sites, and other areas like upstate NY.
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23 February 2025 | 24 replies
Financing can make a big difference, and local lenders who understand house hacking and multi-family investing can sometimes offer more flexibility than big banks.
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21 January 2025 | 8 replies
Quote from @Griffin Malcolm: Open an LLC and apply for a small business line of credit from Key Bank.
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30 January 2025 | 10 replies
I ran my own custom proforma for a bank loan using the asking price that would generate a cap rate over 10% and CoC just under 20%.