fundings
fundings
Funded Amount: $580,000
Type: Single Family Home
Lender: Private
Location: Delta, BC
Loan-to-Value (LTV): 60%
2nd mortgage for retirement
The borrowers previously refinanced 5 units they owned in 2023 and wanted to expand by acquiring an additional 8 units, with plans to purchase the remaining units over time. Some lenders were hesitant because of multiple ownership structures and concerns around dealing with other owners within the project.
The Problem
To help the client get ahead, we leveraged lender relationships and focused on the property's strong cash flow and long-term acquisition strategy. As part of lender conditions, all units required newly negotiated leases to strengthen the income profile and lender comfort.
The Solution
- Kept both pre-sale properties
- Avoided mortgage payments for one year
- Increased rental income and improved cash flow
- Lowered the interest rate by over 3%
- Secured a 3-year term for long-term stability and peace of mind
Outcome & Key Takeaways
The borrowers previously refinanced 5 units they owned in 2023 and wanted to expand by acquiring an additional 8 units, with plans to purchase the remaining units over time. Some lenders were hesitant because of multiple ownership structures and concerns around dealing with other owners within the project.
The Problem
To help the client get ahead, we leveraged lender relationships and focused on the property's strong cash flow and long-term acquisition strategy. As part of lender conditions,
all units required newly negotiated leases to strengthen the income profile and lender comfort.
The Solution
- Successfully acquired an additional 8 units
- Built a scalable long-term acquisition strategy
- Strengthened cash flow through updated leases
- Maintained flexibility to purchase remaining units over time
- Used relationship-driven financing to complete a complex transaction
Outcome & Key Takeaways
Funded Amount: $4,268,015
Type: Condo
Lender: Conventional
Location: Harrison Hot Springs, BC
Loan-to-Value (LTV): 60%
