Kavanagh Mortgages

I recently watched a documentary that got me thinking about how deeply credit and debt are woven into our lives, especially when it comes to the housing market. As a mortgage agent, I see firsthand how these factors play out with my clients every day. The documentary broke down the history and impact of credit in society, and it really resonated with the work I do.

https://youtu.be/h_K7CmRF1nU?si=m4ZL2Ncu5Gh7AAuJ

https://www.linkedin.com/pulse/unpacking-documentary-debtasized-douglas-hoyes-dwayne-kavanagh-bmvnc

In my latest article, I break down key sections of the documentary and offer insights into mortgage education. From understanding the true cost of debt and how it affects home prices to the importance of balancing interest rates and mortgage terms, I’ve connected the dots between what we see in the film and the realities of the mortgage world. If you’re navigating your mortgage options or just interested in how credit shapes our financial lives, this is a must-read.

Check out the article [here] and let’s discuss how these insights could help you make more informed decisions in your own homeownership journey.

Unpacking the Documentary: Debtasized by Douglas Hoyes I recently watched a documentary by Douglas Hoyes that really got me thinking about how credit and debt have shaped our lives and the housing market. As a mortgage agent, I often see how these factors play out in real life when helping clients navigate their mortgage options.

Great day golf at with and

🌟 Burlington Networking Group Update 🌟

We had an incredible meeting yesterday, thanks to the amazing presentation by Alissa McAnuff, financial advisor with Edward Jones Burlington! Alissa shared her expertise on investing and how to “Live Your Best Life” through smart financial planning. Her insights were invaluable!

A huge thank you to Alissa for her time and knowledge. If you’re looking for expert financial advice, she’s the go-to person in Burlington!

Join us at our next event for more networking opportunities and valuable presentations. Let’s grow together! 💼🌱

🔍 Ever wondered why your bank's renewal rate seems to be playing hardball compared to those enticing advertised rates? 🏦💼

As your mortgage advisor for life, let's break it down.

💡💰 Banks often offer competitive rates to attract new customers but may not extend the same perks to loyal clients at renewal. 😕💼 This is where having a dedicated mortgage advisor like me can make all the difference. 🌟✨ I'll leverage my expertise and industry connections to negotiate on your behalf, ensuring you secure the best possible rate and terms for your renewed mortgage.

💪💼 Let's empower you with the knowledge and options you deserve. 📈💼

How to contact me
Dwayne Kavanagh
Mortgage Agent Level 2
Mission 35 Mortgages. Lic # 12844

Direct Message me here on LinkedIn
Call or text: 416-937-5991
Email me: [email protected]

🏠✨ Dive into the world of real estate investing with our latest video! Join me, Dwayne Kavanagh, as I sit down with general contractor and seasoned investor Mehdi Motevalibashi to explore the ins and outs of converting properties into legal duplexes.

In this must-watch session, we break down the essentials of building plans, navigate the financial aspects, and share unbeatable strategies for house hacking and adding value to your investment. Mehdi also opens up about his personal experiences in the field, giving you a behind-the-scenes look at the challenges and triumphs of real estate investing.

🎥 Watch now to learn how you can transform a property into a profitable investment and accelerate your journey towards real estate wealth. Don't miss out on these expert insights—perfect for both beginners and experienced investors!

🏠 Check Out the Property Here: 358 Guelph Street, Hamilton
https://www.realtor.ca/real-estate/26729713/358-guelph-street-hamilton

Connect with Us:

Mehdi Motevalibashi
[email protected]
https://bashihomes.com
https://www.instagram.com/smileymehdi

Dwayne Kavanagh
416-937-5991
[email protected]

https://youtu.be/7_gt1gQ9I7k

Duplex Conversions with Expert Mehdi Motevalibashi | Build Plans, Finances & House Hacking Join Dwayne Kavanagh as he sits down with Mehdi Motevalibashi, a seasoned general contractor and real estate investor, to dive deep into the art of convertin...

Step-by-Step Guide for First-Time Real Estate Investors: Evaluating a Legal Duplex

If you're diving into the world of real estate investment, you might consider a legal duplex. These properties, divided into two separate units, offer flexible investment strategies. Let's break down the three common approaches—house hacking, turnkey, and value-add—and then examine how to evaluate a duplex for investment.

1. Understanding the Strategies

House Hacking
House hacking involves living in one unit and renting out the other. This strategy is ideal for first-time investors who want to offset their mortgage or living costs while gaining property ownership experience.

Turnkey
Turnkey duplexes are fully rented and require minimal renovation or repairs. As an investor, you earn immediate rental income, but these properties typically come at a premium.

Value-Add
With a value-add duplex, you can increase the property's value by making specific changes that add value or reduce costs. For example, one unit could be rented while the other is vacant or in need of renovations. In this scenario you could do something to enhance the property's marketability, attract higher rents, and ultimately increase the overall property value.

Value-add improvements could include:
Renovating Interiors: Upgrading kitchens, bathrooms, and flooring to modern standards etc.
Improving Energy Efficiency: Installing energy-efficient appliances, windows, or insulation to reduce utility costs and attract environmentally conscious tenants.
Adding Amenities: Incorporating additional features like in-unit laundry, a dedicated parking space, or a shared outdoor area.
Increasing Rentable Space: Converting unused areas into rental spaces or expanding existing units to increase rental income potential, like an Additional Dwelling Unit

2. Evaluating a Legal Duplex
With the strategies outlined, let's move on to evaluating a legal duplex.

Step 1: Location, Location, Location
The property's location is an important factor and will play a part in value and rental potential.
Proximity to Amenities: Check if the duplex is near schools, public transportation, shops, or parks.
Safety: Review local crime rates and overall neighbourhood safety.
Growth Potential: Research local development plans, new businesses, or infrastructure projects that could impact property values.

Step 2: Financial Analysis
Analyze the financial aspects to determine the investment's profitability.
Purchase Price: Ensure it's within your budget and consider financing options.
Down Payment and Closing Costs: Account for these upfront costs in your budget.
Rental Income: Calculate potential rental income based on market rates. For house hacking, consider the impact of living in one unit.
Operating Expenses: Include property taxes, insurance, utilities, maintenance, and property management fees (if applicable).
Cash Flow: Determine monthly cash flow by subtracting operating expenses from rental income.
Return on Investment (ROI): Calculate ROI by dividing annual cash flow by the total investment (down payment and closing costs).

Step 3: Physical Condition
Inspect the duplex thoroughly to identify any potential repair or renovation needs. (Tim Latimer GTA Property Inspections is great https://www.instagram.com/gta_property_inspections/ )
Exterior: Check the roof, siding, windows, and landscaping.
Interior: Examine plumbing, electrical systems, HVAC, and structural integrity.
Compliance: Ensure the duplex complies with local building codes and regulations. A legal duplex will have separate utilities for each unit and meet zoning requirements.

Step 4: Market Analysis
Understand the local rental market to gauge demand and rental rates.
Rental Demand: Research the local rental market's vacancy rates and demand for rental properties.
Comparable Rentals: Analyze similar duplexes in the area to determine competitive rental rates.
Rental Trends: Look for trends in rental rates, tenant demographics, and property types in demand.

Step 5: Legal Considerations
Ensure you're aware of all legal obligations and regulations associated with owning a duplex.
Landlord-Tenant Laws: Familiarize yourself with local laws governing landlord-tenant relationships, eviction processes, and lease agreements.
Permits and Licenses: Check if any special permits or licenses are required to rent out the units.
Property Insurance: Obtain insurance coverage that protects against property damage, liability, and rental income loss.

Step-by-Step Guide to Evaluating a Duplex with My Mortgage App
If you're planning to invest in a duplex, My Home Centre mortgage app can be a powerful tool to help you evaluate the property and determine its affordability.
Here's a detailed step-by-step guide to use the app for this purpose.

Step 1: Download the App and Create an Account
Begin by downloading the mortgage app from your app store or Google Play. After installation, create an account.

Download the APP
https://www.mccapp.ca/app/dwayne-kavanagh

Step 2: Click on "Purchase Calculator"
Once logged in, navigate to the "Purchase Calculator" section. This tool will guide you through the process of evaluating a duplex and calculating your mortgage costs.

Step 3: Create a Scenario
Select the option to create a new scenario. For easier reference, name the scenario with the property's address. This makes it simple to identify and revisit later if needed

Step 4: Enter Basic Information
Enter the essential details about the duplex you're considering, including:

Home Price: Enter the property's purchase price.
Down Payment: Indicate the amount you're putting down. The app will automatically calculate the mortgage and default insurance.

Interest Rate: Input the current interest rate. Note that there is typically a premium for rental properties not owner-occupied.
Amortization Period: If you're using less than 20% down, your maximum amortization is 25 years. With 20% or more, you can select 30 years, which can lower your monthly payment but increases the interest paid over time.

Step 5: Add Property Tax and Condo Fees
Include the estimated property tax for the duplex. If it's part of a condominium, add any applicable condo fees.

Step 6: Include Heating and Utilities
Enter the estimated heating cost. Lenders typically approximate this at $100 per month, but it may vary. If you plan to have renters cover this expense, note that as well. Add other utility costs, like hydro, water, gas, cable, and internet, as needed.

Step 7: Add Rental Income
Enter the total rental income you expect from the duplex. This includes not just rent but also additional income streams like internet, parking, storage, etc.

Step 8: Include Additional Monthly Expenses
Add other monthly expenses, like property insurance, property management fees (if applicable), and any other ongoing costs.

Step 9: Add Closing Costs
Closing costs are one-time expenses due on closing day. The app will pre-populate many of these, such as the land transfer tax. To ensure accuracy, select the province where the property is located and indicate whether you're a first-time homebuyer. After that, you can add other known expenses, like home inspection, appraisal, legal fees, etc.

Step 10: Review Your Cash Flow
After entering all required information, the app will show your cash flow—whether it's positive or negative. This final step helps you gauge the property's profitability and sustainability as an investment.

If you're in Ontario, Canada and you would like to chat about your mortgage options, then book a time using the calendar link below
https://kavanaghmortgages.pipedrive.com/scheduler/PBoD4oiG/meet-with-dwayne
Dwayne Kavanagh
Mortgage Agent (Level 2)
Mission 35 Mortgages
Lic #12844

Disclaimer
The information provided in this guide is for educational and informational purposes only. It does not constitute financial, legal, or professional advice. Before making any real estate or mortgage-related decisions, consult with licensed professionals, such as real estate agents, mortgage brokers, attorneys, or accountants, to understand the risks and implications associated with property investment. While every effort has been made to ensure the accuracy and completeness of the information presented, we do not guarantee its accuracy and are not responsible for any errors or omissions. The use of this guide is at your own risk, and you should conduct your own research and due diligence before proceeding with any investment or financial decision.

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📅 Save the date: May 8, 2024
⏰ Time: 1:30 PM - 3:00 PM (Doors open at 1:00 PM)
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If you’re in the market for a property with duplex potential, this listing in Hamilton might be just what you’re looking for. Located at 358 Guelph Street, this home has a solid structure and a spacious layout, providing a fantastic opportunity for investors considering a duplex conversion.

Here’s why this property stands out:

1. Location: Situated in Hamilton, an area that’s experiencing growth and development, this property is in a prime spot for rental income and appreciation in value. Proximity to amenities, public transportation, and local businesses adds to its appeal.
2. Structure and Space: The existing layout offers ample space, allowing for creative configurations when converting into a duplex. The high ceilings and traditional architecture can be transformed into a modern and efficient duplex while retaining some original charm.
3. Investment Potential: With the rising demand for multi-unit properties, a duplex conversion could yield significant rental income. As the rental market in Hamilton continues to grow, there’s a strong potential for steady cash flow and long-term value.
4. Customization Opportunities: Since the property requires some updates, you have the flexibility to design the duplex to suit your preferences and attract desirable tenants. Whether you focus on upscale finishes or budget-friendly renovations, the possibilities are endless.

If you’re interested in exploring this opportunity further, take a closer look at the listing and consider arranging a viewing. This property could be the start of your next investment success story.

https://www.realtor.ca/real-estate/26729713/358-guelph-street-hamiltont

Check out this listing 358 Guelph Street, Hamilton, Ontario L8H3C7

🏠 Thinking of Renewing Your Mortgage? Read This First! 🏠

When it's time to renew your mortgage, making an informed decision is crucial. Your life isn't the same as it was when you first signed your mortgage agreement. Here’s how to assess whether you need a new mortgage structure:

Income and Employment: Changes in your job or salary can impact the type of mortgage term that's right for you. Whether it's moving to a shorter term to capitalize on a salary increase or opting for a longer term for lower monthly payments during less stable times, understanding your income trajectory is vital.

Financial Goals: Have your goals shifted towards saving for big purchases or planning major life events? Your mortgage flexibility needs might have changed, necessitating a review of terms that allow for easy prepayments or a longer term for reduced monthly pressure.

Debt and Credit: More debt requires more cash flow flexibility. Improved credit scores could mean better mortgage rates. It's essential to consider how your debt and credit affect your renewal options.

Family Changes: A growing family may mean needing more financial stability or funds. Review your mortgage to accommodate these life changes effectively.
Big Purchases or Renovations: Planning significant investments? Accessing home equity or choosing a flexible mortgage product can provide the financial leeway you need.

Lifestyle Changes: Shifts in your living situation or daily habits can influence what mortgage product suits you best. Ensure your mortgage reflects your current lifestyle and financial reality.

Assessing these factors will help determine if your current mortgage still fits or if it's time to explore new options. Don't navigate this alone! Contact me for a comprehensive review—with no obligation—and let's ensure your mortgage continues to meet your evolving needs.

How to contact me
Dwayne Kavanagh : Direct Message me here on LinkedIn
Call or text: 416-937-5991
Email me: [email protected]

Or Download my Mortgage APP where you can compare your options side by side and
search for the best mortgage rates and more.
https://www.mccapp.ca/app/dwayne-kavanagh

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Kavanagh Mortgages Purchase | Refinance | Switch | Reverse

Jason, congratulations on joining Mission 35 Mortgages! 🎉

I recently made the same move, and I can say the support here is incredible. In less than 5 days, I've experienced an efficient onboarding process, training that improved my client journey, and sessions on lead generation and partner development that have been invaluable for building my business. Plus, I was set up with a peer group that's all about accountability and supporting each other.

And that's just the first week! They say the grass isn't greener on the other side, but in this case, it definitely is. I love the support here at Mission 35, and I'm sure you will too. Welcome aboard!

Join us in welcoming our newest team member!

✨Jason Longe, Mortgage Agent Level 2 ✨

Jason joins us with a decade of experience in our industry. We are thrilled to have him aboard and look forward to continue seeing him thrive!

Welcome to the Mission35 team, Jason 👏🏻👏🏻

🚨 New Video Alert! 🚨

If you're in the Multi Family Real Estate game, this one's for you! We just dropped a video that breaks down the CMHC Apartment Construction Loan Program and how it can help you fund your multi-family real estate projects in Ontario.

We cover everything you need to know—from application steps to key documentation—plus insights into how the latest federal budget could impact commercial multi-family real estate. If you're a developer, builder, or investor, this video is for you!

Hit play now and get ahead in the real estate game! Don't forget to like, share, and subscribe for more real estate insights. 📺 https://www.youtube.com/watch?v=b40wE-5NHhw

📞 Contact Dwayne for personalized advice and services:

Dwayne Kavanagh Mortgages

My Mortgage APP: https://www.mccapp.ca/app/dwayne-kavanagh

Budget 2024 and CMHC's Apartment Construction Loan Program: Key Insights In this video, we delve into the intricate details of the CMHC Apartment Construction Loan Program, providing a comprehensive guide to help you navigate the ...

Are you ready to unlock the potential of commercial real estate?

Step into unparalleled opportunities and success with our exclusive event tailored for real estate investors like you.

Dive deep into the heart of commercial real estate investing hosted by Andrew Cigna on Tuesday, April 23rd, from 6:30 to 9 pm EST. Whether you're a seasoned investor seeking to expand your portfolio or new to commercial investing and eager to find your path in this strategy, this event promises to be a game-changer.

Join us for a captivating evening where we delve into the intricacies of commercial real estate, featuring a great lineup of industry experts:

Klaud Czeslawski - Land Development
Explore the untapped potential of land development as Klaud Czeslawski, Realtor shares his expertise on transforming raw land into lucrative ventures. Learn the strategies behind site selection, zoning regulations, and navigating the complexities of development projects.

Sandy Mackay - Multifamily
Appreciate the potential as Sandy MacKay unveils the secrets to success in multifamily real estate investments. Discover the unparalleled advantages of multifamily properties, from stable cash flow to economies of scale. Gain insights into property management, tenant retention strategies, and maximizing rental income.

Dwayne Kavanagh - Creative Financing
Discover financing creativity with Dwayne Kavanagh of Kavanagh Mortgages as he unveils innovative financing strategies tailored for the commercial real estate landscape. Learn how to leverage alternative financing options, negotiate favourable terms, and structure deals that maximize returns while minimizing risks.

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Elevate your capital-raising game with Mathew Frederick as he shares proven techniques for securing funds to fuel your commercial real estate ventures. From traditional avenues to cutting-edge fundraising methods, discover how to attract investors, build relationships, and confidently close deals.

Why Attend?
Knowledge is the key to unlocking your full potential in commercial real estate investing in a market flooded with opportunities. By attending this event, you'll:

1. Gain Exclusive Insights: Learn directly from industry leaders who have achieved remarkable success in their respective fields. Benefit from their expertise, wisdom, and real-world experiences.

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In-person: $25 plus HST - Precise location details in Vaughan, Ontario, will be provided upon registration.

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Register here: https://www.aboveallrealtyadvisors.com/event

🌟 Exciting News for Aspiring Realtors! 🌟

I just had an incredible sit-down with Bunny Denton, Director of Executive Development at Realty Executives Plus Ltd. Brokerage. 🏢👥 In our latest interview, Bunny shares her passion for coaching new realtors and provides valuable insights into the best practices that lead to success in the real estate industry.

https://www.youtube.com/watch?v=N3z4yr0P6jw

👉 What does it take to thrive at Realty Executives Plus?
👉 How can new agents navigate the complexities of today's market?
👉 Why is a strong support system crucial for new realtors?

We cover all this and more, offering a wealth of knowledge for anyone looking to start or advance their career in real estate.

📽️ Watch the full interview to get inspired and learn from one of the best in the business! Link in bio.

💬 Have questions about starting your real estate career? Drop them in the comments or connect with Bunny on Social

https://www.linkedin.com/in/bunny-denton-4197a314/
https://www.instagram.com/bunnydenton/

Empowering Realtors for Success: Insights with Bunny Denton at Realty Executives Plus Join me, as I sit down with Bunny Denton, the esteemed Director of Executive Development at Realty Executives Plus Ltd. Brokerage, in a compelling interview ...