October, 2013The Canadian banks are starting to tighten-up their lending for investment properties ... yet they will still give our large - albeit insured - mortgages for owner occupied.

The tenant has come to discern your strained financial situation and is seeking to take advantage of you.

Is there sufficient income to tighten their belt for 3 months, or possibly 2 months depending on when the first payment is due?

What happens if that puts a strain on your relationship?

Generally, you'll have fewer issues with loan policies changing and tightening up loan limits with a larger bank.

When credit is tight, @Joe Gore "Seller Financing REIs" are happy because less buyers can buy, sellers are more open to alternatives, realtors can close less deals.Dodd Frank will tighten Credit.Buy on Sub2 and either rent out or sell on lease option.Buy on lease option and assign for $5000 or 3%.Buy free and clear houses on owner financing and rent out or lease option.

It sounds good on paper, but trust me, it is a sure way to strain a relationship and cause yourself a lot of headache.

I would also worry that if x or y happens causing the housing market to fall, that banks might tighten lending criteria as well, putting a mortgage out of reach for a self-employed person such as myself.

Just sitting here like right before a BIG motorcycle trip of a couple of months and making sure all of the screws were tightened down, battling the fear of the departure date while also just wanting to get going RIGHT NOW!.

I am not in a financial strain, but I have family members who are.