Yes. In Canada, you can access up to 80% of your primary residence's value through a secured line of credit, minus any existing mortgage balance. You only pay interest on the amount you actually withdraw, making it a flexible and cost-effective funding tool.
A vendor takeback is a creative financing strategy where the seller provides a mortgage to help you purchase their property. The amount, interest rate, and position are all negotiable, but it is temporary financing that requires a clear exit strategy such as refinancing when the term ends.
No. Dalia advises against draining all your liquid cash because lenders prefer to see reserves, and you need a buffer for unexpected expenses. Using all your cash also creates opportunity cost and eliminates your financial safety net.
Private money is typically the most expensive capital, with interest rates reaching 13% to 14% plus additional lender and broker fees. Because these are short-term loans and traditional lenders want to see your own equity in the deal, you need a clear, fast exit strategy before using private funds.
Yes. You should work with a lawyer experienced in joint ventures to draft an agreement that outlines each partner's responsibilities, profit splits, and what happens if someone wants out early, dies, goes bankrupt, or divorces.
