I had breakfast today with a colleague who is in the commercial industrial sales/leasing market and we were talking about that moment he has with clients when they do a gut check about financing. He gave me some examples of clients that take months to consider a real estate transaction only to get to a point where then have to answer questions like: Continue reading “That moment when someone asks “can you afford it””→
I heard this questions twice in one hour today from individuals looking for money and thought I would take a moment to speak about it for everyone who is not in our business as a way of letting you into our world.
It seems more and more theses days that we have less and less time. Certainly when it comes to borrowing money most people don’t want to get bogged down in the “stuff” associated with mortgages and loans. Credit reports, applications, numbers, financial statements and what seems to be a million other things are just Continue reading “Ok – so when do I get the money?”→
There was an article posted today in the Financial Post that was headlined “End-of-the-party feel to BMO results” (see http://business.financialpost.com/2013/05/29/end-of-the-party-feel-to-bmo-results/“) which continued the recent run of articles on the declining or thinning NIM of the major banks in our county. NIM stands for Net Interest Margin or basically the spread that a bank earns between the bank’s cost of money and the interest rate that they earn on lending it out to consumers and businesses.
Often the question is asked of us from people and businesses looking for a mortgage: “What is the difference between a bank and lender”. They are usually responding to our mortgage quote that they receive indicating the different financing options Continue reading “Bank versus lender”→
Sometimes it is helpful to know some basic pieces of information before you contact a bank, lender or broker seeking a commercial mortgage. The following are three very simple things to know about commercial mortgages that will hopefully steer you in the right direction.
With only 20 days to help a client purchase a small mixed use property, Royal Bank referred a deal to us as they couldn’t complete their process in time to meet the deadline. The client is an experienced real estate investor who was able to get a discount on the price Continue reading “Mixed use investment property”→