Hello Friends, Welcome to my channel "Divyang Patel - Real Estate & Mortgage". My name is Divyang Patel and I moved here in Canada in 2016 as Permanent Resident with my family. I am a Licensed Mortgage Agent based in GTA. On this channel, I will be sharing useful information about Real Estate, Mortgages, Investment, Financial Planning and much more about Canada. I hope, my videos will be very useful whether you will be immigrating or starting new life in Canada or you are already staying in Canada. All of the information shared by me will be totally based on my personal, friends, relatives & family's experiences and therefore I am sure you will receive very knowledgeable information. Disclaimer: All of the contents on this channel is for information purpose only. Please do your own due diligence and take advise from licensed professionals before taking any decision.
As a newcomer looking for my first home, and also self employed, I don't have employment letter, credit history, or bank statements. But I do have money saved in an international savings account, that I can transfer to my bank account, is that enough to be able to rent?
I understand that for newcomers, it's difficult to find their first home because they do not have credit history or income proof available. However, there are a few landlord available who may accept advance rent for 6 months or 1 year to secure themselves and you can talk with them about your Self-employed business. Be honest while talking with potential landlord. You can also get help from realtors to findout the right home based on your situation. Best of luck 😊
Its a good understanding of concepts however, it is pretty shallow... You have missed out on a lot of terms and concepts that are used such as LTV, Stress Tests, private mortgages markets, institutional mortgage markets, downpayments( 5%-20% ). You also mentioned about credit scores ( whats the optimum score for a client to catch on the best interest rates? ) and alot more....
That's true. Many people starts investing, but sometimes they don't pay off their debts because of lack of financial literacy. Thanks for your comment.
Don’t forget about inflation buddy. If the inflation rate is higher than the interest rate then you’re losing money. Get rid of bond and treasuries invest in hard assets or equities in emerging markets.
That is the reason, in this video I have mentioned to invest in S&P 500 stock index which has provided at least 10% ROI in last 40 years. Normally, inflation stays between 3 to 5%, however, recently inflation reached to 7.5% due to Covid. So with 10% ROI, your net rate of return would be 5 to 7% which is pretty good. I will cover inflation and real rate of return in my future videos. Thanks for your comment.
