February 17 2016
I recently wrote an article for RevNYou titled “Four Ways to Get Your Money Working for You With Private Mortgages”.
Walking through the airport gift shop recently, I saw the Toronto Lifecover titled “Mortgage Slaves”. It showed a picture of a family sitting on a couch, looking hopeless. The article discussed how tightened mortgage rules and less flexibility with CMHC meant that more people were looking to private mortgages in order to purchase their first home. The article warned readers that many private lenders were predators and they should beware. What the article didn’t say was that, as a real estate investor, the lack of funding available at the banks creates a cool opportunity for you to help a family become home owners while you can make a steady return on your money. The trick is understanding how to do it in a way that is fair to the home owners and gives you a return given the risk you take on.
If you have accumulated a bit of capital and want to make a great return in real estate without any tenant hassles, this could be a good solution for you. You can read the full article here.