RENTAL PROPERTY PURCHASE - QUICK CLOSE

Designer Capital worked with our clients to purchase a rental property in Victoria, BC. – Purchase Price $1,150,000.00

The clients came to Designer Capital with two weeks left to close on the purchase of a new rental property in Victoria. The clients were both salaried employees and built up an extensive rental portfolio consisting of five rental properties and various construction projects owned by corporations. Due to their extensive real estate portfolio and construction projects, the clients wanted to purchase their new property with corporate ownership.

Working with our exclusive mortgage specialist partner at a major financial institution, Designer Capital was able to utilize the lender’s rental income policy to achieve this Novel Financing Solution:

• Mortgage: $795,200 (80% of appraised value of $994,000)

• Competitive rate from major financial institution

• Closed within the short 2-week time period

Designer Capital’s Unbiased Advice allowed the client to secure an A-Tier mortgage with a major financial institution rather than a Private Lender or Alternative Lender. Through our experience with corporate ownership and construction financing, we were also able to consult the client to create a Bare Trust agreement to take advantage of lower rates through residential financing rather than commercial financing. Designer Capital’s deep relationship with our mortgage specialist partner enabled us to complete the clients’ file within the 2-week period.