According to an article from The Globe and Mail, Canada’s mortgage debt has more than doubled in the past decade, to nearly $1.3-trillion even though South of the border, the U.S. economy is looking up. Unemployment is down, wages are rising, homebuilding is increasing, and interest rates are likely on the rise. However, here at home things aren’t looking so up and coming. Though the Canadian economy is doing better than many expected, it doesn’t compare to that of the United States.
Tembo Financial recommends turning to real estate as an investment. In simplest terms, the owner (landlord) rents their property or a portion of their property to a tenant. That landlord is then responsible for paying the mortgage, taxes and costs of maintaining the property. Therefore, the landlord will charge enough rent to cover all of the necessary costs.
Tembo can help you by giving you an advance on the money from the sale of your existing home or property so you can get started on the next property. Tembo Financial can give you a loan in as little as 48 hours with no appraisal and no credit check.
*Subject to qualification.