The Landlord Advice Forum for Ontariolandlord.ca

The Ontario Landlord Association recommends Mr. Kevin Boucher of INVIS. He understands landlords and there is no one out there better. Contact him. You might be surprised at your options!

See the homepage for more information.

http://www.yourmortgageguy.ca/index.html

he's really a great person who has years of experience and is a landlord himself. no sales here, but people like terminator for legal issues and kevin for mortgages and re-finance options are seriously a way to not only keep afloat in this business, but succeed more than you would imagine. bob.

Perfect timing for this post, I am currently in the process of refinancing $600K in mortgages and getting jerked around with TD Canada Trust. Where does Kevin work out of?, I will check his web site maybe I'll read it there. Thanks, Bob & Admin.

i'm currently in florida but have rentals in northern ontario. kevin is out of york region and simcoe county, he works from markham to collingwood and is a board member (top dog) at invis. he's helped me make enough money to buy in florida through re-financing and secured my retirement. he is by far the best mortgage person i've met in years. tell him you found him through the ontario landlord site and he'll give you the vip treatment because he loves landlords and knows our struggles.

he's the terminator of mortgage people. you know what i mean. termie is so far above everyone else...bob.

Thanks a million Bob, I am in Simcoe County, really not far from Collingwood. I will call him in the morning.

My life has also been changed due to several RE-FI's creating equity I didnt know I had!!!

ROCK ON

Darn, I had Kevin's website up on my PC since last night, went to send him a lengthy message, and POOF, site disappeared. Hope I did'nt crash it. If it doesnt come back soon, someone have his teley number?

He's upgrading the site.

905-836-7698

funny, how small is our world. I use Kevin for more than a year. He just helped me to get financing on my next rental property.
I highly recommend him.
igor

Website is online.

TD Canada Trust has always sucked big time. I have varying success at a variety of banks but a lot depends on the individual in the bank and how up front they are with their lending policies.

One thing I have heard is you don't want to apply if the unless success is a certainty. Each time you apply and get turned down this inquiry shows up on your credit report.

I had recent success with BMO the the tap turned off.

I don't make enough money.

I agree with you. Mr. Boucher of Invis works carefully with landlords to find out each and every option you have. He is patient, knows the business inside and out, and taught me things that I never knew before.

I'll never go back to any of the Big Banks or any of the scam mortgage brokers selling me 2nd mortgages at 12%!

Every successful and profital rental starts with the purchase price and negotiated mortgage.

I'll never go back to any of the Big Banks or any of the scam mortgage brokers selling me 2nd mortgages at 12%!


%12 holy **** that's like 1991 rates! I hear you on the scam mortgage brokerages. I had one wait until the day of signing real that in fact they really deal with only one lender that happens to be owned by a large Canadian bank..

The rate I got %5.25 in 2007 although not the %12 you speak of, was perhaps .5% too much. Of ocurse they charged a fee like $400 for this wonderful service but I guess it could have been worse.. Then of course they, they shell bank, screwed up the frequency of payments, amount of payments and few other minor issues....

If this guy is the real deal I'm interested though it's a bit far away..

Know anyone in Niagara?? Considering a refinance.....

Niagara, that rate was the "2nd mortgage" being thrown in. First mortgage is at a normal rate. The rest is private money. Usually from the Broker himself.

So you want to buy a rental for $250,000. You put 10% down. So you will have a mortgage of $225,000. He says don't worry and let him be creative. You come back and he says he's got you the mortgage but because of your "income" not being so high he can get you 200,000 from one lender and $25,000 from another. It's all blended in. That $25,000 is the "2nd mortgage" paying up to 13%, however, because it's for the lower dollar figure you don't see it unless you look carefully. And these guys don't want you looking to carefully.

SO he, or his bud, are getting 13% on their investment of $25,000. Be busy, do $1,000,000 in second mortgages and someone is getting rich fast.

Boucher at INVIS won't ever play that game. Yet is creative and understands the needs of landlords (re. cashflow, etc.) better than anyone I've met. He can get things done no matter where you are. PM me if you want, but he's the best out there and a Senior Executive for INVIS which is Ontario's largest mortgage company and deals with the big corporates a lot.

I see that's a new angle, for me, on an old trick...

I'd say the one I went to wasn't near that creative they just wanted their $400 brokerage fee which was really changing me to do a mortgage with the only lender they really deal with...

These things come up when you are stretching what you can buy. Sometimes the best properties that are real winners require some creativity. As we see on these forums, if you hope to survive and profit in the rental game you need the best properties with the best mortgages.

Please note that no advertising fees have been paid by anyone recommended by the Ontario Landlord Association.

They are recommended thanks to experienced landlords and those in the industry.

Admin.

Second mortages = sleazebag mortgage broker. Tom.

All mortgage brokers are not created equal. You have to screen and find one who really understands the business and gets you the best deal.

It's especially true if you are self-employed or buying more than 1 rental.