I’m happy to join the group and learn more about investing in RE.

Hi, Can anyone provide any insight into how commercial mortgages differ vs. residential mortgages? From what I understand (hoping someone can help validate and/or share further insights): - Commercial mortgages will also look at the income of the property for qualification (would assume this makes it easier to qualify?) - Commercial mortgages typically require a higher down-payment (25-35%) - Commercial mortgage rates are generally higher than residential (1% higher?) - Commercial mortgages have lower amortization terms Any insight would be greatly appreciated! Thanks, Manraj

Hi Everyone, I'm looking for someone that has successfully used the BC SSIP. I am currently struggling to find a lender that will allow for a subsequent mortgage to be registered on Title. I am pre-approved fom this program, the suite is done, and all I am missing is a lender that will approve a secondary mortgage. If anyone has successfully used this program, please send me a DM. Thanks!

Hi everyone! I am reaching out about trying to find advice or direction on some creative funding for a property my realty group is looking into. The property is in mission bc. The purchase would need to be a bit out of the ordinary since the property is held in a land trust with 41 other lots so a traditional mortgage would not be possible. The project is a fix and flip with very strong numbers and an 80% increase in ARV with the project term being one year and renovation budget of 125,000 to 150,000. We would be looking for a loan amount of 400,000-450,000 (not including renovation costs) and possibly building in the renovation costs into the loan amount. I would need an LTV of 80% for this deal. I can provide more details to anyone if they are interested or have some advice but that is the jist of it. I am fairly new to this but would be very excited about the making this work but lacking in the expertise and the contacts to make this happen. If anyone has any pointers or advise or cautions that would be tremendous! Thank you for your time everyone!

Hey all what’s your general process for finding your best mortgage rate. Do you start with the bank and then go to a broker? Do you go to multiple brokers? Is there any disadvantages to going with the banks if they offer the best rate and/or better service? What is considered a big enough difference to choose one lender over the other? In regards to a rate. Are there any obligations after signing a commitment letter generally? Thanks for any insights.