In this episode, Mike Peters from Lend City Mortgages shares his journey from economic development to commercial mortgage lending, while providing valuable insights on commercial financing options for real estate investors.
Key Timestamps:
[0:00] Professional Background
- Economic development expertise
- Urban planning education
- Entrepreneurial ventures
[4:30] Commercial Lending Focus
- Property-first approach
- Income evaluation criteria
- Lending ratio requirements
[8:45] Market Changes
- Current lending trends
- Fair market rent considerations
- Portfolio evaluation methods
[12:30] Property Types
- Multi-unit residential
- Plaza financing
- Industrial properties
[16:45] Financing Strategies
- Holdco structures
- Legacy rent considerations
- CMHC program options
[21:15] Commercial Advantages
- No stress test requirements
- Lender relationships
- Deal structuring approaches
[25:30] Growth Opportunities
- Portfolio expansion
- Market timing
- Rate environment impact
Key Strategy Points:
1. Commercial Evaluation
- Property income focus
- Debt service requirements
- Portfolio structuring options
2. Market Understanding
- Fair market rent analysis
- Property class considerations
- Timing opportunities
3. Financing Optimization
- Holdco utilization
- Strategic refinancing
- Institutional relationships
Contact Information:
Email: mike@lendcity.ca
Office: 519-960-0370
Important Tips:
- Consider commercial options when residential limits are reached
- Structure holdings strategically using holdcos
- Time refinancing with market conditions
- Build relationships with commercial lenders
