All Forum Posts by: Mark McGrath

@mark ainsley would you mind PMing me that info as well?

@anita fofie RBC will lend on up to 3 properties in the US. Conditions are that you must be an RBC client - and the definition of being an RBC client, is that you must maintain a $5k account balance with them for 6 months. Last week, I opened an a free savings account with them and deposited the requisite $5k, and have spoken with their US lending team to confirm that I'll be eligible in 6 months time. You can reach them here: http://www.rbcbank.com/borrowing-in-the-us/mortgag...

They do 60% LTV, with rates comparable to what we have here at home (3-5% I was told, depending on the borrower). They don't differentiate between single family/multi family, just 3 properties maximum. Mortgages are of course held in USD.

Hope that helps!

As a fellow Vancouverite - welcome aboard!

@Pawan J. Apologies, didn't mean to label Alberta as a one trick pony! Appreciate the clarification. And you make a great point about the drop in prices representing a buying opportunity.

@Dmitriy Fomichenko Thanks  - I've read the beginner's guide, downloaded and begun listening to the podcasts, and set up my keyword alerts. Making progress!

@Account Closed thanks!

Good point - though I expect that any economies that are highly correlated with a single resource are going to be very volatile no? Will keep my eyes open though!

@Larry Fried thanks!

@Jay Hinrichs I've been looking at Kelowna/Kamloops, and while those areas definitely offer better valuations than Vancouver and the Lower Mainland, I still have much more research to do. Vancouver Island may be a worthy location as well. 

I'm definitely interested in WA also, but I think it may be best for me to get a few deals under my belt on my side of the border first. 

Glad to hear you share my love of BC as well!

Thanks for the advice!

Hey BP!

My name is Mark and I'm new to BP. I'm a Financial Planner from Vancouver, BC, and so while I'm new to the real estate game, I have a solid understanding of investments and finance. Looking to build out a long-term, buy and hold rental portfolio (and understand that Vancouver is probably not the place to do it!). 

I've always had goals to get into real estate and investing, and feel that I'm now in a position financially to start making moves. I've read a half dozen real estate investment books and realize there's only so much reading and research you can do before you have to go out and make mistakes on your own. 

Looking forward to being part of this great community!