Help with mortgage. Use big 5 banks or Commerical.

[Jaydon H.]

Hello, my business partner and myself are looking for some advice from experienced investors. To give a brief background about us, we each currently own 3 and 1 rental property in our own names. We each now have a holding company and also have a joint corporation that is owned by each of our holding company’s (50% each). We have purchased an out of province rental property and looking to see what is the best option for us to put a mortgage on the property. We are purchasing the property with cash and will be doing a brrrr 1-2 months and then putting a mortgage on the property. We have heard options of putting the mortgage under one name and using a big 5 bank (this will allow us to get 5 properties each under our own names, if 5 is the max allowed) or would you recommend using a commercial loan and purchasing it through the joint Corp? We are in BC and the property is in Saskatchewan.

Thank you in advance and if you need more info to answer the question I can provide that for you.

Jay.

[Jordan Perry]

@Jaydon H. Investor focused Mortgage agent here. Its very hard to make a good suggestion for your specific situation without knowing more. I would have a million and one questions regarding your plans for future growth, existing portfolio, careers, income levels Etc. All of this is much easier over a phone call if you would like to give me a shout. Feel free to call me on my cell at 705-930-3770 if you think I may be of some help.