All Forum Posts by: Mike Grudzien

Have you reached out to and networked with local investors and experienced real estate brokers in the area?

What rate on the PCL?

How did you acquire "a small portfolio of long term rentals". Paid cash? No past mortgage broker contacts? Where have you been? What have you been doing?

You sound well profiled.  But no local contacts?  No current lender relationships?  No personal contact at a local credit union?

Sucks...

There is no 1 thing.
For a full loan package, I need a full package on the borrower: 1) experience, 2) credit score, 3) good numbers in the deal, 4) ability to repay and finally 5) only loan up to 50% of the value of the lien that I file and hold.

With the apprehension of repeating myself, AJ knocks it out of the park, AGAIN!  Spot on information.  And unlike some posters who are blatantly shilling for themselves/their services, AJ offers REAL content for the good of the order.  And in doing so, shows off his expertise and he takes the higher ground.
AJ: keep doing what you are doing.
And if I'm buying on the Oregon coast, you are my go-to, as you have earned it.

I'll be watching for the answers, but my two-cents: credit card leveraging is expensive and fraught with many possible perils...

Having done a thorough review of all comments, I can sum up my analysis as follows:

Ouch!

Yes, click bait!