All Forum Posts by: Thomas Lorini

Hey Roman, welcome to BP, there are several regular Canadian contributors sharing wealth of knowledge. Happy to help in anyway. I invest in Ontario, however live in OC, Calif.

Congrats on taking action...wish you all the best! Learn to analyze and determine what good deals look like. Become a pro member here on BP and start using their calculators.

Just read this statement: “...if I put 20% down, the property appreciates 3% per year and the mortgage is always getting paid down every month, that’s a 15% return on my money every year. NOT including cash flow. If that’s my ‘worst case scenario’ (which it never is), I can live with that return” Do you agree or disagree with this statement?

My guess is you paid them to leave...

Congrats Jacob! Looking forward to the continuation of this story...

Originally posted by @Saeid Safarmehdi:

Thanks @Thomas Lorini

I spoke with TD today, they don't lend on properties in Ohio, they only work with the states on the east coast. I did leave a message for RBC and BMO, hopefully i hear back from them on Monday, I'll let you know. 

 Good luck. I remember having a conversation with a lender several years back who lend to Canadians ...they didn’t need a visa or status. If I remember their name I’ll let you know. 

Originally posted by @Reuben H.:

I love a good success story, and the OP did a good job of keeping things positive in the thread, thank you!

Question, can anyone point me in the right direction about the challenges of a US citizen getting financing in Canada?

Thank you.  That’s not going to be easy as a non resident. Hard money loans probably your best bet but not for long buy and hold deals.  May want to partner with a Canadian like I’ve done. 

Originally posted by @Justin Egge:

@Thomas Lorini thank you for the response and additional materials. After a bit of study, it makes far more sense and I am one step closer to being more effective in this realm. Thank you for the time!

Also, congrats on your progress as well. Glad you shared the story.

 Your welcome and thank you for the kind words. All the best! If you have more questions please reach out to me. 

There are lenders that lend to Canadians in states like Florida and Arizona where many Canadians vacation.  I don’t know any myself but you may also want to talk to TD and Royal Bank who have branches on the east coast in US. 

Originally posted by @Stacy Owens:

Continued success to you!!

 Thank you for the kind words!!