35 Years On The Seas and a Lot of Spinach
  
I'm not Popeye, but 14 years ago I felt like him.
Up the Nass River, North of Prince Rupurt, (paddle in hand) I caught a 45 lb Chinook Salmon on the line.
45 lbs is heavy. 45 lbs accelerating and decelerating exaggerates the force exponentially, especially when the connection between the top and bottom part of my fishing rod started to crack.
If you ever want to feel 1.5 hours of intense physical mental focus, this is the way to do it.
Re-Advanceable Mortgage - Scotia is the Best
How the Re-advanceable Mortgage Works
I'm surprised why the industry does not explain the re-advanceable mortgage.
If you have 20% equity in your property, you can qualify for a re-advanceable.
What does it do?
1. You can structure it so in any given month you can pay an interest only payment.
2. Any principal you pay down, can be accessed automatically.
For example a $400k mortgage @ 3.19%.
Normal Mortgage - $1,723/month
Interest Only Option - $1,056/month
Cash available after 1 year - $8,100
Cash available after 2 year - $16,500
Imagine loosing your job.
With a normal mortgage, you would have to pay the $1723 regardless.
With a re-advaceable, the minimum payment would be $1056/month. After 1 year you would have access to $8100 dollars. This $8100 dollars would cover your $1056/month for 7 to 8 months.
This creates a 7 to 8 month mortgage defense in the first year.
A great tool to consider. Scotia and others have a re-advanceable mortgage program.
Need A Property Manager ??
The joys of a real estate manager who takes care of the details and makes a deposit to your account every month.
See Axford PropertyManagement.com for a complete real estate service.
We'll qualify renters, show, and lease your property. Provide a cash flow proforma plus pay the: strata fees; property taxes; and, mortgage with a statement to you by email every month to confirm the net deposit to your account.
Ideal for absentee landowners who want freedom from cash flow and management responsibilities.
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