Multiple Mortgages?

by Ken
(Campbell River, BC)

If a person wants to be able to purchase multiple properties in a year, how do you go about getting that many mortgages to do that? Even if you can put together deals that you can get your down payments back (rent to own deals) you still need to be able to get mortgages for each property. I would imagine the lenders are not going to continuously keep giving you money.

Thanks, appreciate all the helpful advice

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Apr 19, 2012
RE: Multiple Mortgages?
by: Tom Karadza

You’re right, you need to qualify for them. In Canada we have an income based approval process. What I can share is that a good Mortgage Broker can often find mortgages outside of the chartered banks which may have slightly different qualification requirements. Find a good mortgage broker is going to be the key to long term success.

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