Tag Archive for: Mortgage solutions

Commercial mortgage priorities

So you have finalized your plans, gotten all your quotes, applied for your permits and have hired a general contractor for your new commercial construction project. Next on your list is to secure your financing so construction can start. Now while you have owned several homes and a few small residential rental properties, this is your first large scale commercial project.

It’s understandable that for your residential properties that your priority has almost always been interest rate when negotiating or arranging your mortgages. However things are different on the commercial side of things.

For your commercial project you have determined that you will need 21.5M to complete it. You have your value upon completion already from an AACI commercial appraiser and fully occupied it will be worth 32M. Now you have arranged your own residential mortgages before so you call your own bank and they are interested in your project but only give you an offer for 18.3M but with an incredible interest rate so they say that it’s better than any other commercial lender in the market.

Being short 3.2M is not going to get your project finished. So that shiny attractive interest rate will not cut it. This is why for commercial mortgages the loan amount is paramount, followed by amortization ( the amount of years to pay back the loan) and then by interest rate.

So when you’re ready to start construction on your commercial project, please talk with us and we can prepare your loan package and then speak with the 10-15 commercial lenders we have available. Quite possibly getting you better terms from your own personal bank as we answer all questions up front and present a full package thus saving time for you and the prospective lender.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Being Uncomfortable

Nothing ever great was achieved by staying in your comfort zone. You can’t get in shape by staying on the couch. You can’t get rich by staying in bed and you can’t grow and develop unless you have experienced some failure and discomfort.

You will never be able to afford a house if you keep spending all of your pay check. Sure there are some lenders offering no down payment mortgage but you still need to have your closing costs and deed transfer tax.

There is no free ride. The quicker you can be used to some regular discomfort that faster you will make some progress. Do something every day that would normally make you un comfortable. Give a speech, talk with some strangers, ask someone out, do a workout that you have never done before. Just make it a habit to push your comfort zone ever day.

Today I am thankful for those steel cleats on the bottom of my boots or my dog would not of gotten a walk today, new PR’s on workouts and daily opportunities to push my comfort zone.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Tenacity

Tenacity ;

noun

: ability or willingness to carry on despite danger, difficulty, or obstacle.

Watching Rafael Nadal grind out and win the Australian Open in 5 gruelling sets, to me is the epitome of tenacity. Your mind will always tell you to quit well before your physical capabilities have been depleted. Most of the battles I face on long runs are pushing through the battles with the mind to quit. We are capable of so much more as long as we keep going.

“When you grow up you tend to get told the world is the way it is and…to live your life inside the world. Try not to bash into the walls too much. Try to have a nice family, have fun, save a little money. That’s a very limited life. Life can be much broader once you discover one simple fact: Everything around you that you call life was made up by people that were no smarter than you and you can change it, you can influence it, you can build your own things that other people can use. Once you learn that, you’ll never be the same again.” –Steve Jobs, Interview with Santa Clara Valley Historical Association, 1994

Read that sentence in the middle over and over again if you have to, but also remember that they were tenacious and did not quit.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Get Real

It’s all well and good to pretend that things are better than they seem. To put on the rose coloured glasses and try to act like there is nothing wrong with you or the rest of the world. However ignoring the problem or only focusing on the shiny future does not make it go away.

If you’re fat, depressed and lonely own up to it the same if you’re broke, lazy and feel like a loser. See your faults for what they are. The alcoholic can never improve until he finely admits that he has a problem. It’s also fair to say that that it’s hard to relate to what you have gone thorough in life. We all have a past, some better and worse than others but it does not define where you can go in your life.

The sooner that you can take ownership for you lot in life the sooner that you can do something about it. There was nothing great ever achieved by staying in your comfort zone and nobody can do the work for you. Dissatisfaction can be a great force for motivation, feel it and own up to it and see where your life will be if continue down the same path. Now get fed up and do something about it.

“If you look in the mirror and you see a fat person, don’t tell yourself that you need to lose a couple of pounds. Tell the truth. You’re fucking fat! It’s okay. Just say you’re fat if you’re fat” David Goggins from Can’t hurt me.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

You never know

How many times in your life have you done something that you never knew that you could accomplish till you actually did it? Incase nobody has told you lately but you’re pretty amazing. You’re capable of so much more than you think that you can do. It has been said that people over estimate what they can do in a day ( in most cases) and yet vastly underestimate what they can accomplish in a year.

I was inspired to write this as in my 20 years as a broker I have never gotten a file broker complete ( which means all broker based finance conditions) in as little time as I did recently. I can’t entirely take credit for this as I now make sure I get as complete a file upon submission as possible so if anything is left over it can be quickly obtained. The clients were amazing as well which helps.

Also with the onset of Covid I switched all my fitness activities to stuff I could do at home and started running more. When a few friends posted that they has just run 1/2 marthaton’s ( 21.1K for us on the metric system) and since I had been running lots I though I would do one too. So the following day I did just that. While I don’t suggest you strap on your shoes and do that unless you have had lots of training under your belt, I am encouraging you to push your self.

What would you like to accomplish but haven’t tried in the past. I bet that you could read 25-30 books this year. I had never done that before and I set that as my goal last year and accomplished it. There is so much that you can most likely accomplish but you just have to start and do it.

Today I am thankful for amazing clients who make my work much easier, great call with family this morning and accomplishing things I never knew were possible until I did them.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Hard Fought Win

The easy win’s are nice but it is the hard fought win’s that really make you smile and truly appreciate all the hard work that you put into it to make it happen. You’ve stepped out of your comfort zone and you did it, now you know how hard you can push yourself and still come out on top.

“The battle of life is, in most cases, fought uphill: and to win it without a struggle were perhaps to win it without honour. If there were no difficulties there would be no success; if there were nothing to struggle for, there would be nothing to be achieved.” Samuel Smiles

Today I am thankful for the approval of a long hard fought file, teenagers who sleep late thus allowing me to get work done and the crispness of a cold early morning walk with my dog.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Referable

The goal of any service based business is to cross the tipping point of huge outlays of time and capital in marketing and instead receive the bulk of new business through referrals. In order to accomplish this you must treat each and every client like your one and only client and work to not only meet their expectation but to exceed them. This is my goal each and every day and I am also extremely grateful for my clients who have referred me to their friends and family as referrals are the lifeblood of my growing business.

Today I am thankful for the client who referred me to her friend even though we haven’t finished her own mortgage, for having cleats on my winter boots so it was still possible to walk the dog in today’s icy conditions and now being able to automate many of the repetitive tasks in my business thanks to Zoho Flow.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Private Sales

We are currently in the midst of an intense seller’s market. As a result some home owners are resorting to selling their homes privately in an attempt to avoid paying realtor’s fees. However if you are considering this, there are a few things you should know.

  1. Realtors may not show your home to their buyers. This is because the seller does not or will not pay the realtor a commission for bringing a buyer. To avoid this problem you should negotiate an agreement to pay them a fee.
  2. It’s less emotional if it’s arms length between two professionals. Dealing with the home owner can be challenging if they are not receiving what they believe the home is worth and hearing any and all negative feedback.
  3. Selling homes is what Realtor’s do as their full time jobs. You may not feel like showing your home at 10am on a Tuesday nor be available to do that, however this is what your Realtor is engaged to do for you.
  4. Even thought you can list your home on Facebook or Kijiji, it is not the same as listing it on MLS and thus having the power of all the local Realtors and their contacts to spread the word about your home.
  5. You don’t want to show your home to every Tom, Dick or Harry. A Realtor will help screen your potential buyers to make sure that they qualify to buy it. This is why a pre approval is vital.
  6. How are your negotiation skills? You may be fairly decent at sales but this is a whole different ball game and an experienced seller’s agent may have sold hundreds of homes in the past while this may only be your 3rd home.
  7. Do you know what makes some homes sell while others sit on the market. An experienced agent can help guide you through the process to you can avoid these pitfalls.
  8. Lastly but most importantly are the legal risks. How are you with contract law? What do you know about property disclosure? Did you know that you have a fundamental duty to disclose any fact that may effect the value of your property. Unless your a real estate lawyer it is probably best to have a Realtor help you with this.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

Start Strong

Start strong and fishing stronger.

Plan your week before you start, so you get off on the right foot.

Schedule your workouts in advance, so you know what you’re doing.

Pay yourself first before you spend any money.

Listen before you speak, so you can understand.

Position yourself with the best chance of succeeding and getting off to a strong start is the best way to do that.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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

The Spark

Appreciation is the spark that gets things going and in most cases keeps things going. It has been said that people will do more appreciation that they will for monetary gain. This is why people volunteer and why they stay with companies when other companies are offering to pay them more.

Also that one simple act of appreciaton could very well turn someone’s day and or life around. So even if you are pretty good about yourself and you don’t need the extra push, then think about giving some appreciation to others. Doing so will guarantee to improve their day and as a side effect make you feel that much better.

Today I am thankful for the appreciation I received from my calls yesterday, seeing my daughter help my son with his math homework with out fighting and a beautiful day for a morning run.

I look forward to hearing from you in regard to your mortgage needs.

Patrick

p.s- You can click on this link to start the process whenever you are ready. Schedule your meeting with me here.

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