Hi all,
I remeber reading/hearing from Peter Kinch that to save `cap space` you should borrow for your 1st 3 properties from a non-chartered bank. Did he men to include your principla residence as 1 of the 3 or can you do your Principal with a chartered bank and its your next 3 properties( rentals) that should be done with non-chartered banks.
I am now finally going to do this and I have to renew my principal residence now. I can get a slightly better deal with RBC with a re-advanceable LOC with similiar product from Firstline but with a few bass points higher on the variable and 0.5% higher on the LOC.
Any advice?
Thanks,
Andrew
I remeber reading/hearing from Peter Kinch that to save `cap space` you should borrow for your 1st 3 properties from a non-chartered bank. Did he men to include your principla residence as 1 of the 3 or can you do your Principal with a chartered bank and its your next 3 properties( rentals) that should be done with non-chartered banks.
I am now finally going to do this and I have to renew my principal residence now. I can get a slightly better deal with RBC with a re-advanceable LOC with similiar product from Firstline but with a few bass points higher on the variable and 0.5% higher on the LOC.
Any advice?
Thanks,
Andrew