True Wealth Podcast

Today we're diving into a fascinating topic that's been making waves in the lending industry: prime mortgage lending and private mortgage lending. Whether you're a homeowner, a potential homebuyer, or simply interested in the world of real estate, this episode will shed light on the key differences and implications of these two types of lending. Prime mortgage lending refers to traditional lending practices offered by banks and other financial institutions. These lenders follow strict underwriting guidelines, ensuring borrowers meet specific criteria, such as a good credit score, stable income, and a low debt-to-income ratio. Prime mortgages are typically associated with lower interest rates, higher prepayment privileges, standard amortizations of 30 years or less, and are considered less risky for lenders due to the rigorous evaluation process. Private mortgage lending, also known as non-prime or alternative lending, offer a different avenue for borrowers who may not qualify for prime mortgages. Private lenders are typically individuals or small companies that are not subject to the same strict regulations as traditional banks. This allows them to consider other factors when evaluating borrowers, such as the property's value, potential rental income, or the borrower's equity. Private mortgage lending can be a lifeline for those with less-than-perfect credit scores, self-employed individuals, or even real estate investors. In conclusion, understanding the differences between prime mortgage lending and private mortgage lending is essential for anyone navigating the world of home financing. Prime mortgages, offered by traditional lenders, follow strict guidelines and are ideal for borrowers with good credit and stable income. Private mortgages, on the other hand, provide an alternative for individuals who may not meet the criteria for prime lending but still need financing for their real estate endeavors.Join us in the upcoming episodes as we bring in experts from the lending industry, share real-life stories, and provide valuable insights to help you make informed decisions about your mortgage needs. Stay tuned to "True Wealth Podcast," where we empower you with the knowledge to navigate the world of real estate investing.Featured on the ShowOthneil LitchmoreFollow Othneil on Facebook, TikTok or InstagramFollow UsTwitterInstagramFacebookYoutubeTikTok

Welcome to True Wealth Podcast, where we explore the importance of hiring a property manager. Today, we'll uncover why having a skilled property manager is crucial for property owners. From enhancing tenant relations to handling maintenance and legal compliance, they take the burden off your shoulders. Join us as we provide valuable insights and expert tips from industry professionals to help you make informed decisions about property management.A residential property manager is responsible for the day-to-day management of residential properties on behalf of the owner. Their key duties include tenant relations, property maintenance, rent collection, financial management, marketing, legal compliance, and administrative tasks. They handle tenant screening, lease agreements, maintenance requests, rent collection, property inspections, marketing vacant units, ensuring legal compliance, and maintaining accurate records. So, get ready to tap into the wisdom of industry leaders, expand your knowledge, and unlock the potential of your real estate ventures. Stay connected as we bring you engaging conversations that will inspire and empower you on your journey.Featured on the Show:Christine MintonOthneil LitchmoreFollow Othneil on Facebook, TikTok or InstagramFollow UsTwitterInstagramFacebook

Join hosts Seun Adeyemi, a Certified Financial Planner®, and Realtor Othniel Litchmore in this episode of the True Wealth Podcast as they delve into the crucial process of vetting potential tenants for rental properties.Drawing from their expertise in financial planning and real estate, they provide insights on tenant selection, red flag identification, and maintaining a balanced approach to ensure successful property management.Episode Highlights: Key Considerations: The hosts highlight the importance of thorough tenant vetting, stressing its impact on rental property success.Red Flags: Learn how to identify warning signs during the screening process, such as inconsistent income and rental history gaps.Balancing Caution and Fairness: Discover tips on maintaining fairness while avoiding potential legal pitfalls.Using Technology: Explore online tools to verify tenant information and ensure a secure selection process.Building Positive Relationships: The hosts underscore the value of effective communication and fostering a harmonious tenant-landlord dynamic. Tune in for expert advice from Seun Adeyemi and Othniel Litchmore on making informed tenant selection decisions for lasting property success.Featured on the ShowOthneil LitchmoreFollow Othneil on Facebook, TikTok or InstagramFollow UsTwitterInstagramFacebookYouTubeTikTok

Welcome to "True Wealth Podcast”, I'm your host Seun Adeyemi, and today, we delve into a topic that impacts not only seasoned investors but also aspiring ones looking to make their mark in the real estate world. Today, we turn our attention to the far-reaching effects of taxes on real estate investments. Real estate has long been considered one of the most reliable and lucrative investment vehicles, providing individuals with a means to generate passive income, build equity, and create long-term wealth. However, behind the allure of real estate investing lies a complex landscape of tax implications that can significantly impact your bottom line.From Depreciation to Capital Gains and Property Flipping, we explore the impact of taxes on real estate investments, bringing you insights from an Accountant who's passion is to help his clients avoid the costly mistakes many investors make. Together, we'll unravel the mysteries of tax laws, explore ways to optimize your investments and provide you with the tools you need to navigate this intricate landscape. Join us on this captivating journey as we unlock the secrets of tax-efficient real estate investing.Featured on the ShowMohammed from Tax HeroesTwitterE-mailFollow UsTwitterInstagramFacebookYouTubeTikTok

Join host Seun Adeyemi from the True Wealth Podcast as he delves into the fascinating world of co-ownership in residential real estate in the Greater Toronto Area (GTA). In this episode, Seun welcomes special guest Alex Kjorven, an expert from Ourboro, a leading platform for co-ownership solutions. Seun and Alex shed light on the growing trend of co-ownership, where individuals team up to purchase and share ownership of a property. They explore the benefits and challenges of this unique approach to homeownership, focusing specifically on the GTA real estate market. Seun and Alex address common questions and concerns surrounding co-ownership through insightful discussions. They tackle topics such as financial arrangements, legal considerations, finding compatible co-owners, and the potential for long-term investment gains. Listeners will gain valuable insights into how co-ownership can provide affordable housing options, increase purchasing power, and foster a sense of community. As experts in their respective fields, Seun and Alex draw from their experiences to provide practical tips and strategies for successfully navigating co-ownership arrangements. Whether you're a first-time homebuyer looking for alternative pathways to homeownership or an investor interested in exploring new opportunities, this episode offers a wealth of information and advice. Tune in to the True Wealth Podcast as Seun Adeyemi and Alex Kjorven share their expertise on co-ownership in residential real estate in the GTA. Learn how this innovative approach can help you achieve your real estate goals while fostering financial stability and building a supportive network of co-owners.Featured on the Show:Alex Kjorven from Ourboro.www.ourboro.cominfo@ourboro.comFollow UsYouTubeTikTokTwitterInstagramFacebook

Welcome to "The True Wealth Podcast," the podcast where we delve into the world of property investment, exploring lucrative opportunities and discussing the latest trends in the market.I'm your host, Seun Adeyemi, and today we have an exciting episode lined up for you. We're diving headfirst into the realm of virtual real estate as we ask the burning question, "Is GTA real estate still viable for investors?" The real estate landscape is constantly evolving, shaped by various factors such as market conditions, government policies, and the ever-changing needs and preferences of potential buyers. As we find ourselves in the midst of an ever-fluctuating global market, it becomes crucial to reassess the viability of investing in Toronto's real estate market.So, whether you're a budding investor with dreams of owning a slice of the Toronto market or a seasoned player looking to adapt your strategies, this episode is tailor-made for you.Get ready to uncover the truth about Toronto real estate and determine if it remains a hotbed of opportunities. Stay tuned as we kick off this eye-opening exploration into the world of Toronto real estate investing. Don't miss it!Reference:Condo investors in Toronto are losing money: report | CTV NewsFeatured on the ShowOthneil LitchmoreFollow Othniel onFacebook, TikTok or InstagramFollow UsYouTubeTikTokTwitterInstagramFacebook

As interest rates rise, mortgage holders may face financial difficulties. The increase in interest rates leads to higher carrying costs for mortgages, which means that homeowners have to pay more towards their monthly mortgage payments. Rising interest rates can also impact the housing market by driving lower home prices.The higher interest rates can cause potential homebuyers to reconsider their decisions, particularly when it comes to purchasing pre-construction properties. With increased interest rates, some buyers may find it challenging to qualify for a mortgage at the current rates. As a result, they may be forced to sell their properties to mitigate their financial losses. This type of selling, driven by financial constraints, is commonly referred to as forced selling.To gain a comprehensive understanding of the factors that should be considered before deciding to sell or retain a property in such circumstances, it is suggested to watch the entire video mentioned. The video likely provides insights into various factors such as current market conditions, personal financial situation, long-term investment goals, potential future interest rate movements, and other relevant considerations. These factors play a crucial role in determining whether it is advisable to sell the property to minimize financial strain or retain it in hopes of benefiting from future market conditions.By watching the podcast, viewers can expect to gain a more nuanced understanding of the complexities involved in making a decision regarding selling or retaining a property amidst rising interest rates and their impact on the real estate market.Featured on the ShowOthneil LitchmoreFollow Othneil on Facebook, TikTok or InstagramFollow UsTwitterInstagramFacebookYouTube

Buying a property is everyone’s dream. Have you considered buying a preconstruction or a new build home? This episode is for you!When it comes to purchasing new build homes, we must understand all the Risks and Benefits. Whether you are a first-time home buyer or a seasoned investor, from time to time it is good practice to evaluate your requirements, and this is where this video will come in handy.Pre-construction is an incredible opportunity that many investors have used to make fortunes. The condo market is thriving in Canada, and you can get in the market with a good purchase price if you know the pros and cons of pre-construction houses.Pre-construction homes for sale are becoming increasingly popular in the GTA due to their numerous benefits.Ability to pick your house DesignLow maintenance feesBrand new houseLess bidding & cheaperBUT! Like every other business, real estate also faces challenges that can’t be overlooked.Construction DelaysChanges to mortgage rules or ratesMortgage Approval IssuesAdditional costsPaying sales tax on new homes. Some investors look at pre-construction condos as an opportunity to make money by either flipping those contracts for a profit or selling after one year of holding. If you are shopping in Toronto and saving for your down payment, pre-construction is a great option for you to get in early without needing to have the entire down payment right away. Hidden fees are also something that comes up very often which is why it is important for you to be working with a great realtor that knows the game and can protect your interest. A lot of people think that you can in fact save money by approaching the builder directly but often this is where they get you with all kinds of extra fees or costs that you do not have to be responsible for. Want to know how to get in?Connect with us to get moving!Featured on the ShowOthneil LitchmoreFollow Othniel on Facebook, TikTok or InstagramLooking for blood: Condos nearing completion with mortgage appraisals less than investors paid - The Globe and MailFollow UsTwitterInstagramFacebookYouTubeTikTok

We are re-launching this podcast to focus on Real Estate Investing.We have a lot of great content coming your way so stay tuned for new episodes to be released every other Tuesday.Featured on the ShowOthneil LitchmoreFollow Othneil on Facebook, TikTok or InstagramFollow UsTwitterInstagramFacebookYouTubeTikTok