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16 January 2025 | 12 replies
That makes a big difference in the answer to what Charles eloquently referenced regarding confidence in your ability to close.
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14 January 2025 | 15 replies
It's been a few years since I last updated the list of providers (there are older threads on this topic here on BP), but at last blush there were five trust companies offering the ability to write and service mortgages from registered accounts:B2B BankCanada Western TrustOlympia TrustEastern TrustCommunity Trust CompanyOf these, Canada Western and Olympia has the best offerings at the time.
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1 February 2025 | 16 replies
This can put a significant strain on your finances and cash flowThey also often require a large down payment themselves and may have a strict repayment schedule that can be difficult to meet, especially if there are unforeseen circumstances or delays in renting the property or generating income from itIn addition, relying on this type of loan may expose you to higher financial stress and the possibility of default if you are unable to meet your loan obligationsThe final decision depends on your overall financial situation, risk tolerance, and your ability to manage the associated costs and obligations
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20 January 2025 | 57 replies
You may not have done your subject to purchase in a way that protects their future ability to borrow.
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3 February 2025 | 8 replies
One of its standout features is the ability to directly link your Airbnb account, as well as the bank accounts you use to receive rental income and pay expenses.Another feature I really appreciate is Baselane’s built-in banking option.
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29 January 2025 | 9 replies
It comes down entirely to your ability to commit to the deal and close it on time.
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20 January 2025 | 7 replies
So I would continue to hold the property - but I would be sure not to miss the ability to exempt the gain - so be sure to sell within 5 years.
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30 January 2025 | 4 replies
Plus new folks do a very poor job of screening the buyer for Ability To Repay (ATR) which involves pulling full doc and calculating the borrowers DTI, honest income, honest debt payments, prior debt payment histor (FICO) etc etc.Plus shockingly (or shocking to sellers) if you bought this investment house, fixed it, then are selling with financing you are selling "inventory" and y9ou owe taxes on the gain in the year of sale, you are NOT able to use installment sale to spread out paying taxes.
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17 January 2025 | 14 replies
Quote from @Andrea Russin: A blanket loan would be a good way to spread the equity however it would limit your ability to easily exit one property without restructuring your loan.
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18 January 2025 | 3 replies
Lots of wholesalers are nothing but contract executors and do nothing but tie up properties without the ability to sell to and end buyer.