VIP Club- The Mortgage Specialist May 2019

Aleem Peermohamed - Senior Mortgage Planner

Paragon Mortgage Group

aleem@themortgagespecialist.com
778-233-2377
http://www.themortgagespecialist.com/

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Foreclosures

 

May 2019 Abbotsford Attached
May 2019 Burnaby Attached
May 2019 Burnaby Detached
May 2019 Chilliwack Attached
May 2019 Chilliwack Detached
May 2019 Coquitlam Detached
May 2019 Commercial
May 2019 Langley Attached
May 2019 Langley Detached
May 2019 Maple Ridge Attached
May 2019 Maple Ridge Detached
May 2019 Mission Detached
May 2019 New Westminster Attached
May 2019 New Westminster Detached
May 2019 North Vancouver Detached
May 2019 Port Coquitlam Attached
May 2019 Port Coquitlam Detached
May 2019 Richmond Attached
May 2019 Richmond Detached
May 2019 Surrey Attached
May 2019 Surrey Detached
May 2019 Vancouver Attached
May 2019 Vancouver Detached
May 2019 West Vancouver Detached

Some good deals to be had.  Buying a foreclosure property is NOT easy nor simple so make sure you have an experienced professional to help you.  Call me or message me if you need a referral or two.

Have particular questions or need details? Schedule a call with Aleem to find out more or if you have any questions 



Operating Companies Purchasing Commercial Property

 

About 2 years ago, I was re-introduced to the wonderful world of Commercial Financing.

With the un-intended impact to the financial markets caused by the mortgage rule changes of 2016, today, it's now become a major part of my business.  

If you run your business out of a corporation, that corporation can qualify for financing on its own.  

To give you an idea.  

A client is purchasing a $4.4 million dollar commercial building.  The building on its own merits, only qualifies for $1.3 million worth of financing.  This means if you are buying it as a rental only, you have to put $3.1 million down.   Since the client is putting their business into it, the qualification goes from $1.3 million to $3.8 million based on the strength of the  corporate financials.

That's 15% down vs 70% down.  

There are three types of clients that could benefit from this structure:

1. A company that is already paying rent who wants to own the building instead.

2. A company that is not paying rent, but wants to own a building and put their business into it.  

3. A company that is not paying rent and wants to buy commercial investment property.  

Steps involved:

1. Structure corp financials to maximize lending

2. Purchase property that fits your corp financials

Notice how it's not, let's buy property x, then go to the bank and see if we can be approved.  

Reverse engineer everything to maximize the result.  

Got a corporation and want to know what it can do, Schedule a call with Aleem to find out more or if you have any questions 



Lock into Fixed Rate? - 5 Year Bond Rate Graph

 

If you did not like the run up on rates over the last year, it might be a good time to lock in now. 

Since November, bond rates dropped 1.0%.  Over the last month they went up .25%. 

Overall they are .75% below their highs.  

If you wanted to get into fix and were waiting for it to go lower, might be a good time to move on it. 

Before you do anything however, you need to understand how your bank structures penalties.  Many banks calculate penalties in ways that can end up costing thousands more. Some banks have a fairly reasonable structure. 

Schedule a call with Aleem to find out more or if you have any questions 



If you took a Fixed Rate Mortgage from your Bank or Credit Union in the last 6 months, read this

 

Fixed Mortgage Rates have dropped significantly over the last 6 months. 

During this time, I spoke to many people who were being told by their bank or credit union reps to lock in as rates were low and they were going to go up (even though the data was showing that there was still room for fixed rates to come down).

If you took a fixed rate mortgage in the last 6 months from your bank or credit union at a rate of 3.44% or higher, you need to listen up!

We were able to help someone in your situation, where it will save them $6,000 over the next 5 years, to renegotiate their mortgage,

Depending on who your lender is, it might be worth a conversation. Feel free to reach out if you would like to find out more. 

Schedule a call with Aleem to find out more or if you have any questions 



Jamaica Mon

 

Back from a family getaway last month, in beautiful Jamaica. Special thank you to my friend and colleague Tom Phillips for manning the fort while I was away, and to my amazing clients and referral partners - not only for your support, but your understanding, and working with Tom, allowing me to disconnect and spend time to reflect and recharge.

It was a great trip, we enjoyed every moment of it, from the security lineups at YVR, to customs experience at Sangster International Airport. 

We met people that live in our neighbourhood - literally 5 minutes away - on the return flight - whom we have never seen before.

Excited to be back. It is going to be a great spring and summer!



Champions!

 

Happy to announce that our Recreation Hockey Team won our Winter League.

Congratulations to everyone on our team "the Bundys".

It was the first year that the group was together, and after finishing 4th in the division in the regular season, the team hit its stride in the last game of the regular season and rode the momentum all the way to the finals.

In the finals our opponent was also a new team to the league, who we had a fierce match up with earlier in the regular season. We fell to them 4-2 in the contest, in a hard fought battle that was very physical.

The finals rematch was again a very intense battle although a much cleaner game than in the regular season. We scored relatively early to take a 1-0 lead that stood up the entire game.

For a game with only 1 goal, it sure was pretty wide open - both goalies stood on their heads. Our side carried the play, but Shayne, who was filling in for injured/suspended Aleks was sharp when called upon.

Looking forward to another season with this amazing group of people, in the next division this spring!



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