Buying Unlimited Properties with Scott Dillingham

Expert Investor and Mortgage Lender Scott Dillingham has helped thousands of investors grow their net worth through real estate. He has been lending for nearly ten years and has quickly become the top sales rep at every lending institution he worked for.

In this episode, Scott shares what most people's mistakes are when doing financing deals. At the same time, he talks about tips and the important steps you can take to get financed properly and avoid the pitfalls most people get into.

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What you'll learn in just 17 minutes from today's episode:

Learn how to do proper diligence on your numbers so you won't run into trouble with your financing deals
Find out how to optimize your portfolio and increase your financing capabilities.
Discover the mistakes people usually commit in their financing deals, so you avoid getting into that same trap again, and the tips to be properly financed

Resources/Links:

Website: https://canadianrealestatenetwork.com/

Topics Covered:

01:03 - Biggest issues with regards to financing deals that he has found solutions to
03:00 - Difference in going for the mortgage broker versus the bank
04:32 - What properties does he focus on
05:36 - Financing mistakes new real estate investors are committing
06:16 - One quick tip to have proper diligence on your numbers
07:25 - Mistakes people make when applying for financing
08:51 - Tips on how to get financed properly
10:03 - Finding a good mortgage broker
12:08 - How they are able to lend to other places other than just Ontario
13:44 - Talking about his 'Canadian Real Estate Network'

Key Takeaways:

"I would say, the biggest mistake that I see investors make is not analyzing all the expenses properly. They'll look at the cash flow, mortgage, and taxes, and then they determine they're going to make $700 a month. But in reality, when you really look at the numbers, maybe it's only $200 a month."- Scott Dillingham

"One quick tip that I have my clients do for better due diligence that's super easy because numbers don't lie, ask the previous owner for his tax return. You can clearly see the expenses that are in that property." - Scott Dillingham

"To make it easier for someone to be refinanced properly, it is best to try to stay with one broker or one lender as you grow. What will happen is, we can recycle documents. It's cumbersome to apply for a mortgage, but if you're with the same person, and they can help you grow, it's easier to update." - Scott Dillingham

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