In this episode of Canadian Real Estate 101 Podcast, we dive into the dynamic world of commercial real estate with our guest, Tuan Luong from the BRX Brokerage.
Together, we explore the ins and outs of commercial financing, starting with a discussion on what falls under commercial real estate and the distinctions between commercial and residential financing. Tuan sheds light on the advantages of commercial financing, such as overcoming stress tests and maximizing borrowing power, along with insights into interest rates and specialized financing programs like CMHC products. We delve into the challenges and opportunities of financing short-term rental properties, discussing lender considerations and creative approaches to securing financing for Airbnb properties.
Additionally, we cover the timelines and costs associated with commercial financing, including appraisal, legal, and lender fees, as well as the impact on personal credit and leveraging holding companies. Tuan shares final thoughts and strategies, emphasizing the importance of building a robust team and network for seamless transactions, along with the long-term vision and patient investing required in commercial real estate.
Tuan's email: tuan@tuanluong.ca
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