All Forum Posts by: Huong Luu

@Gurinder Sidhu calculate how much money you will make each month. If the numbers are good, and this purchase is in-line with your overall goal in RE, then most likely you should proceed. You should talk with a mortgage agent and see how much of a mortgage you qualify for. 

You haven't given enough info: what is the neighbourhood like, how much renos will you have to do, what is the cashflow, etc.. 

@Shawn Quigg

Do you have an appraisal done? Send me a message. I might be able to help you. 

@Ahmad D.

1. I would recommend Hub Insurance, and Park Insurance. 

3. You should include an inspection contingency even if you don't have a lender. This is to protect your investment. Don't assume it is part of the contract. If you don't include it as a condition, and your agent doesn't, then it may not be included.

The other things I would check on is: 

Do you physically have to be here in person to sign the closing documents or will they allow electronic signature and affidavit from out of province/state?

Are there any withholding tax considerations?

Congrat! Is your plan to keep this property with private money or refi with A-lender? Will your private money allow you to recycle the funds on your next deal? 

I have seen lenders ask for letters from Accountants verifying tax returns. The norm is NOA, T1, bank statements and screen print outs of accounts.  Lenders are allowed to contact employers to verify certain employment things. Most large companies HR dept know not to share certain private info, but they will be able to confirm the letter was written by the company, start day, position, if the staff is on leave, etc. Lenders know how to weed out the 'fake' HR staff and fake letters. Lenders are now even doing phone and maybe in-person interview with the borrower.   

@Lalit R. The best way is through networking events. Letting people you meet, know you are interested in those opportunities. Set up clear criterion and do your due diligence on those you end up joining. Message me separately and I can share with you some contacts I know who do this. 

@Michael Zack Were you able to resolve this matter? Going through a similar situation now. Wondering what your cost were, products used and if you noticed a reduction in noise? Thank you advance.

@Ro Maga Were you able to resolve this matter? Going through a similar situation now. Wondering what your cost were, products used and if you noticed a reduction in noise? Thank you advance.

@Travis Hewlett Were you able to resolve this matter? Going through a similar situation now. Wondering what your cost were, products used and if you noticed a reduction in noise? Thank you advance.

@Emil M. Were you able to resolve this matter? Going through a similar situation now. Wondering what your cost were, products used and if you noticed a reduction in noise? Thank you advance.