Better yet is to buy well so you can pull as much of your own money out as soon as possible to replenish your reserves and have dry powder to put to work for the next deal.

I work in the entertainment industry, so I make decent money, but depending on economic issues work can go in and out, and there’s no real assurance of constant monthly income like there would be for other jobs.

Hey Brittany, There are many things to take into account when starting out but I will recommend focusing on your sales skill first on the acquisition side

I am a US lender based in Toronto.Feel free to reach out with any question.

We are out of country and having a very difficult time knowing what is going on on the ground.

I just also found out that Freddi and fannie mae loans does not have due-on-sale clause.

For example, say the owner took out a 1 Million loan for his building 5 years ago, now is selling it at 2M. 

So in short, my recommendation is to get a personal loan for as much as you can and stretch the repayments out to 72-84 months. 

Yet, I received terms 2 weeks ago, and CTC this week.Rate: 8.125%Processing Fee: $995Closing Fee: $1,360Origination Fee: 2.650% Admin Processing Fee: $995Is this bad considering it's a small cash out: ~60k?

I began getting the home ready to rent out in the fall of 2022.