As the Director and Principal Broker at mortgage brokering firm Sigmamortgage.ca, Shawn Stillman knows all about the intricacies of helping real estate investors in the current market. Along with his partners at Mortgage Outlet, Stillman had accrued years of experience working for other brokerages. Then, two years ago, Stillman knew the time was right to go out alone and start an independent brokerage firm. “The problem with working for someone else is that you’re only as strong as your weakest link,” Stillman says. “By being the owners, my partners and I are in charge of quality control and that allows us to create and manage the entire mortgage experience in a way we know works best.”
One of the key drivers of Mortgage Outlet’s success over the past couple of years has been the strong links that Stillman and his partners have made with lenders across Canada. He’s in no doubt that those connections play an important role in enabling him to secure the best possible deal for his clients.
“Due to the volume or mortgages we complete with lenders, we have their ear and are able to get them to look at deals that sometimes don’t fit their guidelines,” Stillman says. “Although lenders have criteria, every deal is looked at and analysed to see if it can be made. Based on our experience and relationships, we get stuff done.
“We do a lot of business with the major banks and a lot with the non-bank lenders; it’s important to have a healthy relationships with both.”
Mortgage Outlet’s success has been forged by a philosophy that promotes putting the client first and not settling for second best when negotiating with a lender on an investor’s behalf. “We are completely focused on being efficient, securing low rates and ensuring a positive client experience,” Stillman says. “If we have the sort of client who needs some hand holding, that’s what we do.”
When you flip houses, you are not usually intending to live in the house; rather the strategy is to sell the property as fast as you can so as to avoid paying taxes and other expenses on the property. While there will obviously be initial costs that you will need to budget for, house flipping can be done with few resources and little experience.
If you’re a newer house flipper, you have probably heard about the 70 percent rule. Here’s your guide to the investing rule that can prevent you from spending too much money on an investment.
“Sign up for our daily newsletter to get the latest news, updates and offers delivered directly to your inbox.”
Designed to offer readers accurate, cutting-edge information to guide their investment decisions, each issue of Canadian Real Estate is filled with informative articles on a broad range of topics.
© 2021 Canadian Estate Wealth. All Rights Reserved by Merged Media