All Forum Posts by: Doug Keefe

@Sam Hanaa if it's owner occupied and 4 units or under my understanding is that you can go down to 10% but amortization periods max out at 25 years and CMHC fees do apply.

East coast here.  PEI specifically.   Very beginning stages.  Asking lots of dumb questions, but would rather make the mistake of looking dumb in a forum rather than a negotiation (or aftewards)!

Hey @Mark Perry you mentioned you grew up on the East Coast.  The name sounds familiar, any chance it was PEI?

Ahhh.   That's clear then.   Thank you!!

Hello great BP people of Canada!

I'm reading this info from CMHC and wondering what a specific line means. (This could be a dumb question)

Source: https://www.cmhc-schl.gc.ca/en/hoficlincl/moloin/m...

"Loan-to-Value Ratio Up to 85% or 100% of cost, whichever amount is less. "

It doesn't mention 100% anywhere else.   But could this imply that a 100% loan is possible on new construction?   Again, it just struck me a funny, but maybe I just don't fully understand what they mean.

Hi @BCNEWBIE,

I'm a newbie Canadian myself.  Very similar scenario, except on the opposite side of the country.  33 yr old, home owner, looking at getting a rental property.

Best of luck.   Hopefully we can exchange war stories as we become the pros.

Cheers!

Thanks Mark, The podcast has been great. So much on the blogs I'm just discovering. Huge resource here!

Hi Roy, Not sure if PEI is the place to invest. Pretty slow pace market here. If I do it'd be rentals. I like the idea of international properties, though maybe that's adding too much complexity starting out. I see you're setting your goal at 50 units which is awesome! Are they all in NB?

Hi Cliff, I'm very new to both the site and REI. Congrats on going full-time. What kind of approach are you taking? Flipping, cash flow, wholesaling?

Thanks Cal! I've discovered the site via the Podcast which has been a great intro. Looking forward to finding those answers and the questions!

Hi BP

I'm a newbie. Probably even pre-newbie.

I'm located on the east coast of Canada in PEI. Married with a very baby boy at home (10 weeks old!).

We own a home here but have some investment capital set aside and looking at real estate investment. Our goal is to move away from away from cubicle dwelling and generate cash flow and returns from real estate.

Interested in investigating a few different real estate avenues. Flipping, rental, land development, vacation rentals. I haven't settled on one yet. Hoping through learning and speaking more with BP members to make informed decisions before committing $$.

Looking forward to meeting you.