Hello,
I am new to RE however I am employed as a Mortgage Agent and I would like to be involved as a RE Expert on my own deals. I purchased the "Creative Quick Turn Investing" and enjoyed it a lot along with 4 books on ACRE, Joint ventures and so forth. I love the quality of the material taught and sold by REN.
I was wondering if the "Rent to own Success in Canada" program talks (explains in detail) about submitting and getting approvals from lenders being CMHC, MBS, or even MICs. (RTO deal with a co-venturer)
I have to admit, I emailed few BDMs (contact point for Mortgage Agents to inquire on RTO deals) of different lenders inquiring about if they finance RTO deals where the ownership structure is one partner ownership as explained in the " RE Joint Venture" book and the "JV secrets ebook". I don't believe they have any idea of what I am talking about.
Which prompted my question if the "RTO Success in Canada" program addresess the mystery in approving those deals? I even talked to other mortgage agents in the industry if they know lenders for these RTO deals explained above. They are clueless.
When I mentioned to one lender that the lawyer representing me will file the JV agreement as a notice on title of subject property to protect my 50% beneficial ownership (can't qualify for a mortgage myself) since I will be doing all the work from finding the co-venturer, property and RTO client and so forth. I am receiving very weird responses from lenders . I believe the majority of mortgage agents are not sophisticated enough to have dealt with these deals. I admit , I am one of them. Not for too long though. (lol).
Does anyone know if these financing issues are discussed in the "Rent to own Success in Canada"?
Thank You
Patrick
"Live Well and Prosper"
I am new to RE however I am employed as a Mortgage Agent and I would like to be involved as a RE Expert on my own deals. I purchased the "Creative Quick Turn Investing" and enjoyed it a lot along with 4 books on ACRE, Joint ventures and so forth. I love the quality of the material taught and sold by REN.
I was wondering if the "Rent to own Success in Canada" program talks (explains in detail) about submitting and getting approvals from lenders being CMHC, MBS, or even MICs. (RTO deal with a co-venturer)
I have to admit, I emailed few BDMs (contact point for Mortgage Agents to inquire on RTO deals) of different lenders inquiring about if they finance RTO deals where the ownership structure is one partner ownership as explained in the " RE Joint Venture" book and the "JV secrets ebook". I don't believe they have any idea of what I am talking about.
Which prompted my question if the "RTO Success in Canada" program addresess the mystery in approving those deals? I even talked to other mortgage agents in the industry if they know lenders for these RTO deals explained above. They are clueless.
When I mentioned to one lender that the lawyer representing me will file the JV agreement as a notice on title of subject property to protect my 50% beneficial ownership (can't qualify for a mortgage myself) since I will be doing all the work from finding the co-venturer, property and RTO client and so forth. I am receiving very weird responses from lenders . I believe the majority of mortgage agents are not sophisticated enough to have dealt with these deals. I admit , I am one of them. Not for too long though. (lol).
Does anyone know if these financing issues are discussed in the "Rent to own Success in Canada"?
Thank You
Patrick
"Live Well and Prosper"