Private lenders for Barrie real estate investments
Why don’t the banks just lend against Barrie investment real estate?
When you are looking for Barrie real estate for investment purposes, and you are having trouble borrowing money from the bank or other financial institutions, you may have to consider other options. For some, these options might include not getting their ideal house or investment property. For others, they may contact a private lender. Should the lender feel interested and believe that the venture is relatively safe, they may lend you the money. Why might the bank not lend you money, even if the investment is sound? Well it comes down to two main factors; 
1. Traditional high street banks count ‘doors’. A door is literally how many units plus how many single family homes do you own, so if you owned a single family home that you didn’t occupy yourself and a 4 plex multi residential building that counts as a total of 5 doors (a 4 plex counts as 4 doors + the single family home). Most banks have a limit on how many doors they will lend you personally and that number can range between 5-10 for most of the major lenders. Irrespective of your own personal credit, hit the magical number of 10 and you may run into a road block. It’s possible that by gong to the commercial side of the bank that you may be able to work out some deal but if that fails then read on!
