Purchase Transaction - 3rd property.
The client reached out to me to purchase a new primary home. His plan was to sell his primary home and purchase a new property with sales of proceeds. I asked him about his current mortgage and income. I quickly found out he could be a very good candidate to grow his rental portfolio.
He was paying 1.9% for his mortgage. Why do you want to break it? Why do you want to pay the penalty?
He was making more than enough income to carry 3 mortgages at the same time.
1.9% interest is almost free money, and rental market is strong in Calgary. I asked him if he was interested in keeping his existing property, enjoy some nice cashflow (FREE MONEY - Leverage other people's money, make money work for you), purchase a new property, treat yourself!
He took my advice, and now what? He's making a great rental income that can cover his entire mortgage payment for the existing home, and rest of the money goes into his pocket - This is so powerful. Power of leveraging expert knowledge. Talk to "the true expert".
The ultimate goal of mine as a mortgage broker is to help my clients grow their wealth faster.
JD Lee
Mortgage Broker
M: 1-587-968-1490
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