Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Tyler Stiller

Tyler Stiller has started 2 posts and replied 100 times.

Post: HELOC in Ontario, Canada

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

@Mike Nathan

I’ll send you a pm. It really is situation by situation. 

@Account Closed

Unless you know more info, it’s not necessarily a terrible idea. Depending on the situation, the goal, the timeline etc 

Post: Ontario Tax Accountant

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

@Ryan Kenneth

Please do

Post: HELOC in Ontario, Canada

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

Depending on the city, and the property the answer is yes. But the rates are not your traditional bank HELOC rates. I'll connect with you and go through it with you

Post: Move from Ontario to somewhere out east Canada

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

Hi Luc, I'm in ontario and started to invest in atlantic canada. There are some things to be aware of, the main one is location. I'd reccomend being in a "big city", also I'd note that electricity is much cheaper out there compared to gas, so alot of landlords look for baseboard heating versus furncace/gas

Post: Incorporating your real estate business?

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

From my perspective, having your properties in a corporation can limit who will actually provide a mortgage. If you are in commercial lending, it is no problem, but residential financing it can really limit the lenders.  Some times on residential mortgages we have to go to alternative lenders to make the debt servicing numbers to work and if you want them in a corporation it usually comes with a premium in rate. 

Post: Commercial Mortgage Broker Fee Structure (Canada)

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

Hi Chris, 

Lenders do not pay mortgage brokers on commercial files. If you can find one to do it for 0.50% of total borrowing that is a good deal. In my office we typically charge 1%. Of course I'm biased to mortgage broker taking care of the file because I am one. 

If you find a good commercial mortgage broker, they can save you time, rates, and typically help structure the mortgage so it is cheaper in the long run. 

Post: Ontario Tax Accountant

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

Hi guys,

I am a mortgage broker in Ontario, I constantly have questiosn and so do clients about how to do the bookeeping, who to use for their accounting, is it tax advantageous to hold the property in a corp or personally.

Is there any accountant out there in the community that would be willing to hold a webinar or pass along their information? I'd be happy to promote such a person to my circle

Post: New Brunswick, Canada Real Estate

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

@Cara Salustro

I have a guy, Jordan Perry who is in Ontario and specializes helping people get mortgages in New Brunswick exclusively. He is the expert in the game. I’ll connect privately and share his info with you

@Keith Shutupaboutit

Yes it is that simple you can use the HELOC for a down payment and rehab costs.

I’ll connect with you privately and help guide you

Post: Will I qualify for a mortgage??

Tyler StillerPosted
  • London, Ontario
  • Posts 104
  • Votes 38

@Jefferson Mondragon

Hi Jefferson, I am a mortgage broker in Ontario. You are right where lenders do prefer having 2 years experience on your credit report. But it isn’t a deal breaker.

Working retail is ok, but if you are not guaranteed work, then we would typically have to use a 2 year average.

I can help guide you on this, and let you know what is doable.