Canadian mortgage collateralized against existing property
Hi all,
I am Real Estate Investor out of Edmonton Alberta. I’m looking to get financing for my next property and move into the multi family sector. I’m curious about financing, specifically if anyone knows if I can collateralize my existing (single family, and duplex) properties in a mortgage for multi family. I was thinking this could serve as “skin in the game” and maybe lesson the 20% down payment required. I don’t want to refinance my existing properties because it would increase my payments and decrease my cash flow. I was hoping to get them all wrapped up into one mortgage or somehow attach my existing properties as collateral against a new multi family property.
I would love to know what the bigger pockets community thinks.