[Elizabeth Kelly]

Welcome everyone! what are you working on right now?

[Elizabeth Kelly]

It takes time to cultivate the mindset you need to invest successfully but keep reminding yourself that emotion leads to unnecessary risk, so perspective is critical. Looking for an accountability partner or coach to help you remain detached from deals and situations can provide an additional level of security

[Elizabeth Kelly]

Connect with a great mortgage broker, they are worth their weight in gold!

Prepare all docs ahead of time that will be needed for qualifying (T4’s, pay stubs, letter of employment, down payment docs etc.).

Stay patient with the approval process, it keeps getting longer while lenders ask for more and more documentation.

Watch your credit like a hawk – be sure to make your payments on time and don’t over-utilize credit cards or lines of credit by borrowing more than 65 or 70% of the limit.

[Elizabeth Kelly]

If you have great credit and the ability to qualify for a mortgage, then you can borrow the down payment funds or bring on a partner to provide the down payment. I recommend connecting with a great mortgage professional to review your financing options. Then learn more about common partnership structures to determine what you would like to offer a prospective partner.

[Elizabeth Kelly]

Thanks for the tag, Diana! I tend to focus my funds on the rooms where guests spend the most time – kitchens and bathrooms. I’m very strategic with my money, and I always look at which renos will provide the best ROI to increase appraisal and/or sale valuation.

Here are a couple of good articles to check out as well!

https://www.renofi.com/learn/renovation-best-return-on-investment/

https://blog.remax.ca/best-home-renovations-biggest-roi/

https://canadianmortgagesinc.ca/information/home_improvements.html