Bridge Financing (Alberta only ) for flips or BRRR's
Funds available to lend on 1st Mortgages (my funds not a broker)
3-12 Month terms
12% Interest only (No lender fees or points)
75% Loan to Value
Very quick approval + funding especially once we have done more than 1 deal together. Ideally...
You typically pay a much higher interest rate to lock in then available on variable . I have always looked at it as your going to save $ on the first while for sure maybe a couple rate bumps may happen during the term ( or may not) but then you will be up to the rate your would have been locked...
It was free money !
Have a look at the mortgage statements in 2016 before the cashback then 2017 after the cash back.
Notice balance has went down in 2017
It really was a cashback that didn’t get paid back. Was skeptical of free money also and went over it with banker several times to insure...
Locking mortgage in may make sense now !
I have typically mostly went variable as rates usually lower. But just now locked in a 5yr fixed on several properties at several different banks.
Always ask for discounts after they initially quote you rates. They usually come down
If you are like...
Hang in there !
If you NEED TO sell 1 or 2 to do so but if you don't need to just hang on . 10 years from now if you still have them you will be glad you did.
We have had no appreciation in many parts of Alberta in a decade
The world still needs our products and we will eventually get through...
I decided to get my license a few years ago as the volume of transactions I was doing and planning on doing justified it.
If you are doing it purely for your own transactions (won’t be listing working with buyers and sellers )as I did ( I actively work with clients on Commercial deals though)...
Has anybody successfully completed a condo conversion ?
I have a 5 bay shop under contract that is already titled 5 separate condo but has been operating as a multi unit owned by one owner.
No condo reserve or fees ect
I know most of the heavy lifting is done.
Would love to talk to someone...
Yes . Seems every oil + Gas company is holding job fairs and blasting the radio with hiring ads.
The wages that they are offering are still much lower than prerecession so we arent getting some of people who left the area or industry back yet... This is definately a town that feels the cycles...
I am finding the vacancy rate here in Gp is down to about 5% down from 20% last fall. Rents drops have ended and rents are slowly ticking up (small increases now ) the rental rates here dropped about 25% from 2014 -2016.
I think it is a great time prices are flat rents are...
Looking for a part time(as little as a few hrs a week or more ) apprentice /someone looking to learn about Real estate investing could be work for coaching exchange or some paid tasks . Ideal candidate will be a Grande Prairie area newer REIN member or someone who owns at least one rental...
I HIGHLY recommend selling your homes vacant even if you have to pay your tenants to leave tenanted homes are hard / agents prefer not to show them if they have other options and very rarely do they show well . You will get a lot more for them then the cost to get tenant out and few months of...
Here you go
New Homes and Duplex city of Gp
Total Sales 12 ( -50% YOY ) AvgPrice $362,100 ( -10.38% YOY)
Total Sales 24 (45.46-% YOY) Avg Price $404,000 ( +2.64 YOY)
Total Sales 44 Avg Price...