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Welcome back to the Wisdom Lifestyle Money Show! In this episode, host Scott Dillingham introduces you to the core team dedicated to helping you achieve your commercial real estate investment goals. Meet Mike Peters, Jennifer Champion, and Christine Traynor, the experts behind the commercial mortgage arm, specializing in financing across Canada and expanding into the US. Learn about their individual backgrounds, areas of focus, and how their unique perspectives can benefit your investing journey.
Key Timestamps:
[0:00] Introduction to the Wisdom Lifestyle Money Show
- Meet host Scott Dillingham
- Introduction of the commercial financing team: Mike Peters, Jennifer Champion, and Christine Trainor
- Overview of the episode's focus: introducing the team and their expertise in commercial financing
[1:15] Meet Mike Peters: Commercial Mortgage Specialist
- Mike's background in economic development and passion for business growth
- Specialization in business-focused commercial mortgages (restaurants, cemeteries, gas stations, churches)
- Experience with residential income properties (up to sixplexes)
- Collaboration with residential brokers for commercial deals
- The unique nature of commercial mortgage deals requiring a hands-on, business-focused approach
[4:30] Understanding Residential Mortgages on the Commercial Side
- Highlighting the difference between residential and commercial financing
- How commercial financing focuses on property performance and numbers
- Potential options in commercial even when residential financing is limited due to debt ratios
- Property as a business: generating income relative to expenses
- Transitioning to corporate ownership for larger personal property portfolios
[7:45] Meet Jennifer Champion: Value Add Investor
- Jennifer's journey into real estate investing, starting in New Brunswick in 2020
- Focus on value-add strategies with duplexes and fourplexes
- Expansion into commercial projects and current focus on the Alberta market
- Strategy of investing in landlord-friendly provinces with significant opportunities
- Specialization in six, eight, and ten-unit multifamily properties
- Helping others leverage the CMHC MLI Select financing program The Importance of Team Expertise and Multiple Lender Access
- The risks of working with only one bank or inexperienced individuals
- The value of the team's firsthand experience in building and developing multifamily properties
- Access to multiple lenders through the mortgage team for better terms and rates
- Educating investors on programs like MLI Select and building to fit those models
- The significance of partnering with experienced builders The MLI Select Program Explained
- Opportunities in markets like Edmonton due to median rent
- Key features of the MLI Select program: up to 95% loan to cost, 50-year amortization, 1.1 debt service coverage ratio
- The advantage of building to fit the MLI Select model from the outset
- Importance of upfront work and having financing in place Meet Christine Trainor: From Appraiser to Mortgage Expert
- Christine's background: 20 years as a real estate appraiser and business owner
- Natural transition to the mortgage space as a real estate investor
- Focus on helping people build out-of-town investment portfolios (e.g., Victoria to Edmonton)
- The importance of pre-qualifying inv
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