Private mortgage lending can be a very lucrative investing tool for the average person to add to their portfolio. In BC private money lending on real estate is pretty basic. In general the average investment will go up to 75% LTV or Loan to Value. Higher LTV’s do happen up to 80% but for these examples we will use 75%.
The purpose of a depreciation report is to give a standard to follow to all strata and strata companies in BC. This helps condo purchasers and mortgage lenders have a clearer view of the building’s health and the common property associated with it.
In this article, we’ll discuss whether or not depreciation reports are mandatory in British Columbia for purchasing a strata property.
Second Mortgages are a fast and easy way to obtain money using a home equity loan to do things like: debt consolidation, home renovations, create fast business capital if your self employed, pay outstanding bills like taxes or liens. These are great for reducing payments, paying out debts or increasing cash flow but what else should you consider?
Sure almost everyone has had a cheque bounce once in their life and you might think that it is not that big of a deal. Did you know that this can lead to larger financial problems and possibly criminal charges? If you are accused of deliberately defrauding someone by writing a bad cheque you could face criminal charges. As well if you have written a bad cheque in the past your bank or financial institution may put holds on the cheques you are trying to deposit. This can significantly impacted your day to day banking & possibly make you late on paying your bills or worse paying your mortgage payments.
Foreclosures happen for a variety of reasons but how you react is critical in keeping the best options open to you. We have helped refinance foreclosure in BC many times and have the experience and the connections to the best mortgage products & techniques to stop and/or reinstate your mortgage once foreclosed.
How to pay for vacation or payoff your vacation loan?
Now that we are into the Canada Day Long Weekend, here is a blog that might help someone you know or perhaps you’re considering how to pay for much needed vacation expenses. We all either know someone or have done it ourselves; borrowed too much or extended our budget too far in search of that dream vacation.
Why Pay Property Taxes? Well your property tax payment is one of the largest revenue sources in the Province of BC. These taxes are critical in helping provide programs & services in communities throughout British Columbia.
Income Tax time comes every year but are you ready for it? For many small and mid size business owners in Canada income tax time can be a big dread. You try to prepare by having all your receipts in order and contributing to an RRSP in hopes to reduce the monies you owe. When surprises hit are you ready for them?
How To Build A Website There comes a time for some of us when we need to build a website, or in my […]
