All Forum Posts by: Jonathan Leblond

Good move Kenneth Brune, you won't regret. I think Albany is a good area to invest.

I agree with Chad. Elliott Milek will help. Have a look at can-ustax. Or Allan Madan look at madanca. Both did a good job and were clear and precise. They confirmed everything I read/heard/understood of what should be done and how.

LP isTHE way to set your business. In my opinion.

Hi Laurie, did you find anything on bigger pockets? Thanks

Hey, good list indeed! I know it's probably a lot of work but an update every year would be great! To see how things evolve!

Also , I've read a lot of books the past 2 years and those I enjoy the most are often story book. The kind of book that teach you something through a story. When the books are well written, I always feel like I get a lot more from those. Especially on the mindset side of business and life but also on strategies, new ideas and different ways to see things and always keep the motivation to the max.

Here is a quick list of some of my favorite (no big surprise here). But if you have some more similar to share, I would enjoy your recommendations.

1. The Alchemist (Paulo Coelho)

2. The richest man in Babylon (George Clason)

3. Rich dad poor dad (Robert Kiyosaki and Sharon Lechter)

4. The E-Myth Revisited (Michael E. Gerber)

Thanks.

What would be the penalty to refinance and start with a new mortgage? Maybe It would be worth it on the long run.

Hi @Brianne H

I did called many of them and here is a quick list of those I think would work with foreigners. Some other would probably be good too but a lot of phone calls are required to find the good fit. Here is the list : (Mofin Lending), (Express capital financing or Mortgage), (Visio lending), (Finance of America), (Alpha capital solution). Good luck in your search and let us know if you find something that works!

I would not put a lot of hope on Canadian bank financing for your project in the US. First, they will probably ask for a huge cash down, second, they won't probably lend on a BRRRR or any apartment buy and hold type of project, and third, you will probably lose a lot of time setting the loan and getting everything right. Unless you want to buy a condo for yourself in Florida... I suggest you look somewhere else.

Charles is right, many lenders will lend to foreigners in the US. If you have someone over there who can get a conventional loan, you will get the best rate. Otherwise, for maybe 1% to 3% higher rate you will find financing I'm sure. I called and emailed approximately 30 different lenders since the last 2 weeks and many were opened to finance Canadians. But everything comes with a cost! Good luck

Do it!!! Totally worth it! :)

I agree with Dan, 20-25 is what you should expect. At least with conventional loan or until you find a lender who will trust you and see how you run your business and agree to finance more. On the other hand, his rate will probably be higher... up to 3% higher and maybe more... so on the long term it may not be a good decision anyway. Points are also different from one another and can be expensive!