Not all financing is created equal. There are low rates for AAA credit clients, moderate rates for alternative lending and higher rates for private mortgages. I have done a lot of private lending over the years and at the end of the day it is never about the rate it is about the opportunity cost. The cost of completing your build on time, the cost of loosing your home or the cost of picking up this property at the right price and the right time. All these things private lending can help you accomplish.
It’s true that private lending is not for everyone. It is essentially a bridge loan which takes you from where you are right now to where you want to be. There is also a cost for missing out on the opportunities and this is just one option available to you to make sure that you don’t miss out. This is not long term financing but financing to make sure that you don’t miss out on the opportunities in life.
Today I am thankful for a beautiful walk to my meeting this morning, that it was close enough so I could do that and for my dog who tells me that Amazon or election people were at my door.
“Intelligent people make decisions based on opportunity costs”. Charlie Munger
I look forward to hearing from you in regard to your mortgage needs.
p.s.s- I should tell you that I am licensed in Nova Scotia, Ontario(M18001555) & in British Columbia(BCFSA #504098).
p.s.s.s You can download my new mortgage app here