04/28/2023
Have YOU thought you'd like to "break up" with your Landlord? Read on! The odds may well be in YOUR favour!
I have clients who were new to Canada in 2017. Their first home in Toronto was a lease.
After 2 years they called me looking for another lease. This time something a little bigger.
We got underway, and during our first showing, talked about buying. She was unsure, he was a yay.
I'm a BIG believer in gathering information. Even if you're not going to use it for a while.
I referred them to a mortgage broker to learn their financial position and then decide their best direction.
One week and a few chats later, they were both yay's!
We found a super-cool condo conversion, and they bought it.
That isn't where their story ends!
Another 2 years later, they called me ready to upsize.
Plan 1, get a freehold home, turning their condo into an investment.
Plan 2, buy a 2nd condo, lease it, and keep living where they were.
Because selling wasn't an option, their down payment wasn't at 20%.
In the mortgage world, without a 20% minimum, you CAN NOT pay more than $999,999.99
The year was 2021, and the market was ridiculously competitive.
After several offers, they kept missing out to buyers who could spend 1M +.
That turned our focus to Plan 2.
We found them a groovy condo in a great location. Right after it closed, we put it on the market for lease AND secured a fantastic tenant in 1 day!
Their story is a perfect case study for a plethora of reasons.
For today, here's what I hope you take away ... THEIR STORY COULD BE YOURS!
All you need to do is take the step. Get to know your financial options. Learn ways to acquire a down payment OR increase what you have already.
Mapping things out today WILL lead to your future success.
I'm hosting buyer webinars with a mortgage broker. In it, you learn the home-buying process from start to finish.
They're FREE, online, and only take about 30-45 minutes of your time.
Are you thinking, "Yeah, I'd like to know how soon I can break up with my Landlord?"
Send me a DM, and I'll get you on the list.