[Ollie Smith]

In my eagerness to expand my portfolio, I over extended myself financially by acquiring multiple properties in quick succession. When the market experienced a downturn, managing multiple mortgages became overwhelming. This taught me the importance of pacing growth and maintaining a healthy debt-to-equity ratio.

[Ollie Smith]

I have been struggling to find a building that works with MLI Select.

Following for inspiration!!

[Ollie Smith]

@Catherineoneill416 That’s a good example. Too many things can be overwhelming for sure!

@dtidd or @Catherineoneill416 can you give other different examples of incompletions that would way you down?

I am trying to think about what they are in my life. Thanks!

[Ollie Smith]

Thank you for sharing @Mark_Baltazar @CorySperle . Your know with CMHC financing is amazing!

I have been hearing that the more cash you have the better the chances for a mortgage and CMHC financing. In your opinion, what option would you recommend and why:

A) Closing with Interest Reserves

B) Closing with a bigger downpayment

C) Closing with money in reserves

D) Other

[Ollie Smith]

I would also love to hear about people’s best practices!

I bet @OntarioLandlordsWatch would have some great tips!

I personally like to find houses that already have the utilities split. I had one of my tenants blame the other unit for the utilities being high.

[Ollie Smith]

@Mark_Baltazar What are your views on CMHC? How is it impacting the way you invest?

[Ollie Smith]

Thank you for sharing! This is great information. It is crazy to see the changes they are making!

I want to confirm my understanding about the following:

“… BRRRR using a bridge loan, a vendor take back, or a private mortgage, you do not have the ability to refinance your debt with CMHC”

If I stay with my current mortgages, mentioned above, CMHC wouldn’t refinance. But there is the option to I move to a CMHC approved institution then CMHC would refinance?

But I guess the question becomes is it worth it right now.

[Ollie Smith]

Totally agree. The support system is invaluable, especially when things get tough.

[Ollie Smith]

Hi Cory, I downloaded your 6 pillars of due diligence a few weeks ago, thank you so much it is an amazing and comprehensive list! I do have a question, do I ask for 12 months of bank statements to see rent roll, operation statments, etc?

[Ollie Smith]

That’s great! Thank you @CorySperle for sharing.

Does this list apply all over Canada? I’m looking for a multi-family in Saskatchewan.

[Ollie Smith]

Hi @OntarioLandlordsWatch , Thanks for responding back 🙏 I really appreciate any support I can get. I haven’t going into the unit in about 8 months. It was the neighbour who told me they haven’t seen the tenants in a 5 to 6 weeks. I also found out that the water bill was canceled a month ago it the next bill is coming to me. They are still claiming to leave at the

I didn’t request a site visit yet. What should I say it is for? Should I be looking for anything specific? I saw the house about 8 months ago and it was a dump! Garbage everywhere.

I do have a court date in January 🙄

[Ollie Smith]

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