On to this week’s show!
Today we have my Mortgage Broker Scott Dillingham from Windsor Ontario who as far as I know is the only investor specialist who can help Canadians with mortgages in both Canada and the USA. Scott while he was the #1 mortgage broker at one of Canada’s biggest banks got my clients and I many mortgages at cheap rates and I’m now selling one of them.
Scott has since opened his own mortgage brokerage called Lendcity, he shares how American debt service coverage ratio mortgages work when buying income properties in the USA. Scott is a real estate investor himself and shares some of his own challenges as a Windsor landlord and how/where he plans to buy his next investment property and why.
For long-time investors, you’ll remember the days around ten years ago when we used to negotiate seller credits to bring down our downpayments, thus improving our ROI. Well roll back the calendar as seller credits are more of a norm in the US, even more so with builders in this slow market with historically high interest rates.
Scott of course will be our mortgage expert, guest speaker at our next US Investment Workshop on the morning of Saturday April 13th at our office in Oakville broadcast live over Zoom. I thought the last one would be our last as it’s not easy, nor cheap to have as much talent in the room that we do.
We have everyone’s favourite real estate Accountant, my wife Cherry Chan, the CEO, CIO and CFO of Share: Andrew Kim, Dmitri Bourchtein, Carmen Da Silva respectively to explain how to be a USA landlord without all the work but keep all the equity.
Link is in the show notes: simply choose between in person or virtual. https://USAworkshop.eventbrite.ca. Cost is only $30 plus tax and eventbrite fees.
You can also reach Scott and team at iwin@lendcity.ca, an a custom email address made specially for you, my 17 listeners.
Please enjoy the show!