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  1. MarcoChim

    Bought my 3rd Property!!!

    Congratulations !!! It's great to start when you're young I'm closing on my 3rd property in 2 days as well :)
  2. MarcoChim

    just closed my 11 suiter Edmonton!

    Very inspiring story. Congratulations!!
  3. MarcoChim

    I Wish I Knew What I Know Now?

    My biggest regret is not invest in real estate earlier. I started working and saving since I was 19 years old, I worked really hard (3-4 jobs at once) to fill up a 16+ hour day schedule. So I could save quite fast and didn't have much chance to spend money. My first $10,000 saving went to...
  4. MarcoChim

    Re-advanceable Mortgage/LOC

    If you have your conventional mortgage with Scotiabank, you will have to switch the mortgage type to Scotia Total Equity Plan (STEP). In order to do this, you will have to get an appraisal done. For example, if your house is appraised at $600,000 and your mortgage balance is $200,000, then...
  5. MarcoChim

    New Investor looking for a mentor

    Hi freedom45, Congrats on your decision to take actions, sounds like your personal finance is in very good shape and is ready to move forward. I purchased my first home early last year and my first rental 9 months after. Even though I'm not in GTA, but I can always discuss real estate...
  6. MarcoChim

    First Time Investor Advice

    1. Is it a good idea to use borrowed money for the initial down payment or should I wait until I have the cash available? Both options can be good idea, as long as you found a property that provides good cash flow. If you use borrowed money, your cash flow will be less due to extra interest...
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