Mortgage broker - should I look for another one

[TodorYordanov]

Hi all,

I am in the middle of buying my first investment property and contacted a REIN member recommended broker.
I get the sense that the broker at this point is more focused on getting me to sign up for "Fast Track to financing" course that they offer, cost almost $300,

than getting down to my mortgage needs and offering and discussing options.

I wonder if this is common with brokers who deal with RE investors?

I am in Toronto and the property in question is in Hamilton. If you feel that you know a mortgage broker that will do it right, please email me.

Thanks,

Todor

 

[RobMacdonald]

Hi Todor,

Just be sure that you do your due dligence with your broker as you would with any other member of your team, realtor, accoutant, lawyer etc. Ask the broker some questions. What experience do the have with real estate investors? How many mortgages have they arranged for 1 single client? How will a purchase of a negative cash flow property affect their future purchases? What institutions do they primarily deal with?

Then compare your answers to the experience of other REIN members. They have oustanding networks of bankers and brokers.

Also, did the broker ask you about your goals? Do they know you are a REIN member?

And don`t let the geographic locations of the property, yourself or your broker stand in your way. If you canvas the membership, you`ll find REIN members will deal with professionals all over the country because they are experts at what they do.

 

[wwds]

QUOTE (TodorYordanov @ Jan 4 2008, 08:03 AM) Hi all,

I am in the middle of buying my first investment property and contacted a REIN member recommended broker.
I get the sense that the broker at this point is more focused on getting me to sign up for "Fast Track to financing" course that they offer, cost almost $300,

than getting down to my mortgage needs and offering and discussing options.

I wonder if this is common with brokers who deal with RE investors?

I am in Toronto and the property in question is in Hamilton. If you feel that you know a mortgage broker that will do it right, please email me.

Thanks,

Todor

Hi Todor,
I have worked with a mortgage broker by the name of Vanessa Russel. I found the entire transaction for me was handled in a very professional, smooth and stress free manner. Here`s her contact information http://www.yourmortgageplanners.com/
As an aside, your aim is to find a professional advisor who acts in a professional and ethical manner. Recommendations and references are only the starting point as you begin your assessment of an individual.


Happy New Year!

Steven

 

[BobHudson]

QUOTE (wwds @ Jan 4 2008, 07:31 PM) Hi Todor,
I have worked with a mortgage broker by the name of Vanessa Russel. I found the entire transaction for me was handled in a very professional, smooth and stress free manner. Here`s her contact information http://www.yourmortgageplanners.com/
As an aside, your aim is to find a professional advisor who acts in a professional and ethical manner. Recommendations and references are only the starting point as you begin your assessment of an individual.


Happy New Year!

Steven


Vanessa and her husband Sean are amazing. I have also had solid experience with Guy Lew. All are REIN members and all have links at the right hand side of my real estate blog: http://lease2ownbob.blogspot.com/

 

[BobHudson]

QUOTE (BobHudson @ Jan 4 2008, 09:58 PM) Vanessa and her husband Sean are amazing. I have also had solid experience with Guy Lew. All are REIN members and all have links at the right hand side of my real estate blog: http://lease2ownbob.blogspot.com/


... and none have ever tried to sell me anything eg. a course!!!!!!!!!!!!!

 

[DonCampbell]

Hi,

Good that you are doing your due diligence! Everything you need to know about getting your financing arranged and done properly is already in your Quickstart Home-Study, so you have to wonder what their program would be.

I recommend that you re-read and re-listen to the financing piece within the Quickstart Home-Study, then find yourself another broker who`s focus is on getting you financed not lining their pockets.

 

[ekisielewski]

Hello: you may want to contact my broker. He is extremely professional and efficient. Will return your calls within mins 7 days a week. He is also an experienced investor. He is located in Mississauga. Tom Hogg 905 949-4949
Good Luck
Elisabet K.