All Forum Posts by: Roman Stefaniw

@Brianne H. Hey, Thanks for the info! I really would have never thought of that for flipping a house. Definitely will be doing a variable! Too but you got stung with a 7200$$ penalty! I actually had an appointment today with a Credit Union and she said the will refinance up to 80% which totally took me by surprise. I thought if anything it would be less than 70. 

Do you have any experience with Scotia Bank lending you money for mortgages/rehabs? My local credit union said they will reimburse your rehab money once the work is completed. Which isn't bad if you have the extra money...May need to find a private lender though. :)  

@Kuba F Fantastic blog post man, really informative and will really come into use! 

@Jacob Perez @Stuart Bartwicki @Jordan Han @Brianne H. @Mazen Al Ashkar

Ive read that there are some new regulations coming into Canada for 2018. These articles say that there will be a 20% decline in the amount banks will loan out to home owners. 

Also, being new I have a few questions I'm ignorant too. Since BP is mostly United States orientated, how do some of the guidelines BP suggests parallel to Canada? Such as--BRRRR are banks willing to refinance up to 70% of the ARV?

Any particular rules when it comes to getting a CMHC or FHA loan for a 5% down payment? From what I Understand in the U.S you can get Another FHA after a year of living in the residence. Is this the same as Canada?

Any one have any opinions on where we are in terms of a "housing peek" in our mother Country? 

Any thoughts or answers would be great!  

@Jacob Perez Right on! Thank you! 

@Mazen Al Ashkar Great! Thanks

Hey @Mike H. Thanks for the prompt reply. This is some great info! Im analyzing  couple properties right now for fun and I will certainly use these tactics. 

Hello, looking to add some Canadian BP members or join to some groups. Im new to real estate and as useful as BP is Canada has different guidelines laws to follow. I won't be annoying and message you constantly I promise! Any help is appreciated, thank you!  

Hello, just wondering what tools people use to dictate the After Repair Value of there properties. Thinking of getting into the BRRRR strategy.

Any advice or links to other forums would be greatly appreciated. Thank you!!

@Chris Seveney

Thank you. So it seems like this might not be the best route. Finding a partner for long term would be a better choice then a private lender in this situation. It seems like it would be better for a rehab house that you were going to fix up and sell as fast as you could. 

Hello all! Im brand new to the forum and to real estate investing and have a question involving private lending. From what I understand a private lender is interested in lending his/her money out for a super high interest rate and to expect the money back in a fairly short amount of time. Is it a bad idea to get a private lender for a long term investment then? Would it be better to get a partner rather then a private lender for a long term investment.

Say i have a duplex for 100 000 down. Say it requires 25% down for being an equity property. If i could go 50 50 with a lender we each would be putting in 12 500 in the investment. Say after all expenses are paid I have a cashflow of 300$. How do you pay the lender back in such a short time? Is it a bad idea to use a private lender for a long term investment? Does anyone have experience with that? It seems like a lot of money would be waisted to high interest rates. 

Any Input is appreciated. Thanks in advance!!