How do we tap into the first-time investors hiding in your database?

Joel Olson • January 20, 2022

(*What's your preference? Listen to the podcast above or read the blog post below)

Did you know that most first-time investors are right under your nose?

There is a lot of media around the idea that investors are scooping up rental units and houses all across the province.


But what if I told you that on our side investors are not some lucrative big city investor with millions, millions of dollars?


What if I told you they're not people that are Uber wealthy, but they're actually the clients you’ve served over the past 24 months. 


In fact, our data shows that almost 80% of the clients we've served in the last two years are in a position since when they were first time homebuyers can now become first time investors.


And this is not a bad thing. 


The idea that a first time homebuyer can build their wealth, especially when many of them tend to be quite young, by buying a rental property is extraordinary.


And we do ourselves a disservice by not reaching out to our buyers in the last two years and seeing if instead of selling a house, we can help them buy their second home. 


Imagine if you can gain a whole book of clients without having your previous clients have to sell their home but having them keep what they have. 


The only thing stopping you from doing that is most clients don't even know where to start.


But with huge equity gains in the last 24 months, the majority of people have enough equity for us to leverage their current home to buy a rental property. 


With the increases in rental income being derived from most rental properties, it means that the vast majority of rental properties they will buy will more than cash will enable them to have a home that does not put any extra burden on their monthly family budget. 


In fact, it's almost as if they'll be able to get a rental unit for free while letting the long term appreciation over 10, 20 or 30 years allow them to be in a better position than ever before. 


This is a really about changing a family's financial position.


So who are these people we're talking about? 


The majority of people that we've helped the last two years are first time homebuyers that put 5% down. 


Now, they have enough equity to pull up to to pull enough equity out of their home by a refinance or adding a home equity line of credit. 


The situation or strategy we would do would depend on the client - taking the equity out not putting any additional cash in and using that money to buy another home. 


Now, another strategy can be looked at at this point, is a lot of people might think about that idea that they may have bought a condo or a townhouse and maybe now's the time to move to a single family home.  In that scenario, they may turn their existing home into a rental and actually only put 5% down on the next house.


So we're not even talking about a huge amount of equity having to be pulled out. 


In many cases, we could probably even see them get into a second home by putting 20 to $70,000 down depending on what they're buying and the market they're in. 


So if you'd like help, we are currently offering a program where we can reach out to your past clients and see if we can help them strategize and build a realistic strategy on getting into their very first rental property with a little bit of guidance. 


This is very, very easy for the vast majority of clients.


The other thing we're doing right now is that we are currently starting a newsletter based on hot investment properties around the province. 


Now we invite you to submit some properties that we could show to our database that ranges from Northern BC to Vancouver Island to the interior to the Lower Mainland, really all throughout the province. 


If you would submit those properties to us, we're putting them out in a weekly newsletter so they can be exposed to more and more people that may be looking for an ideal rental property strategy.


Additionally, we're setting this newsletter out to our existing clients and building even more clients that may be looking at it. 


So, if you're interested in maybe getting a hold of some of these leads, and maybe being part of some of these leads please reach out to us on that as well. 


As always, let us know any way we can help you.

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Joel Olson
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Everything You Need to Know About Second Mortgages

By Joel Olson • December 9, 2025
What Is a Second Mortgage, Really? (It’s Not What Most People Think) If you’ve heard the term “second mortgage” and assumed it refers to the next mortgage you take out after your first one ends, you’re not alone. It’s a common misconception—but the reality is a bit different. A second mortgage isn’t about the order of mortgages over time. It’s actually about the number of loans secured against a single property —at the same time. So, What Exactly Is a Second Mortgage? When you first buy a home, your mortgage is registered on the property in first position . This simply means your lender has the primary legal claim to your property if you ever sell it or default. A second mortgage is another loan that’s added on top of your existing mortgage. It’s registered in second position , meaning the lender only gets paid out after the first mortgage is settled. If you sell your home, any proceeds go toward paying off the first mortgage first, then the second one, and any remaining equity is yours. It’s important to note: You still keep your original mortgage and keep making payments on it —the second mortgage is an entirely separate agreement layered on top. Why Would Anyone Take Out a Second Mortgage? There are a few good reasons homeowners choose this route: You want to tap into your home equity without refinancing your existing mortgage. Your current mortgage has great terms (like a low interest rate), and breaking it would trigger hefty penalties. You need access to funds quickly , and a second mortgage is faster and more flexible than refinancing. One common use? Debt consolidation . If you’re juggling high-interest credit card or personal loan debt, a second mortgage can help reduce your overall interest costs and improve monthly cash flow. Is a Second Mortgage Right for You? A second mortgage can be a smart solution in the right situation—but it’s not always the best move. It depends on your current mortgage terms, your equity, and your financial goals. If you’re curious about how a second mortgage could work for your situation—or if you’re considering your options to improve cash flow or access equity—let’s talk. I’d be happy to walk you through it and help you explore the right path forward. Reach out anytime—we’ll figure it out together.
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Don’t Let Collections Derail Your Mortgage Application

By Joel Olson • December 2, 2025
Can You Get a Mortgage If You Have Collections on Your Credit Report? Short answer? Not easily. Long answer? It depends—and it’s more common (and fixable) than you might think. When it comes to applying for a mortgage, your credit report tells lenders a story. Collections—debts that have been passed to a collection agency because they weren’t paid on time—are big red flags in that story. Regardless of how or why they got there, open collections are going to hurt your chances of getting approved. Let’s break this down. What Exactly Is a Collection? A collection appears on your credit report when a bill goes unpaid for long enough that the lender decides to stop chasing you—and hires a collection agency to do it instead. It doesn’t matter whether it was an unpaid phone bill, a forgotten credit card, or a disputed fine: to a lender, it signals risk. And lenders don’t like risk. Why It Matters to Mortgage Lenders? Lenders use your credit report to gauge how trustworthy you are with borrowed money. If they see you haven’t paid a past debt, especially recently, it suggests you might do the same with a new mortgage—and that’s enough to get your application denied. Even small collections can cause problems. A $32 unpaid utility bill might seem insignificant to you, but to a lender, it’s a red flag waving loudly. But What If I Didn’t Know About the Collection? It happens all the time. You move provinces and miss a final utility charge. Your cell provider sends a bill to an old address. Or maybe the collection is showing in error—credit reports aren’t perfect, and mistakes do happen. Regardless of the reason, the responsibility to resolve it still falls on you. Even if it’s an honest oversight or an error, lenders will expect you to clear it up or prove it’s been paid. And What If I Chose Not to Pay It? Some people intentionally leave certain collections unpaid—maybe they disagree with a charge, or feel a fine is unfair. Here are a few common “moral stand” collections: Disputed phone bills COVID-related fines Traffic tickets Unpaid spousal or child support While you might feel justified, lenders don’t take sides. They’re not interested in why a collection exists—only that it hasn’t been dealt with. And if it’s still active, that could be enough to derail your mortgage application. How Can You Find Out What’s On Your Report? Easy. You can check it yourself through services like Equifax or TransUnion, or you can work with a mortgage advisor to go through a full pre-approval. A pre-approval will quickly uncover any credit issues, including collections—giving you a chance to fix them before you apply for a mortgage. What To Do If You Have Collections Verify: Make sure the collection is accurate. Pay or Dispute: Settle the debt or begin a dispute process if it’s an error. Get Proof: Even if your credit report hasn’t updated yet, documentation showing the debt is paid can be enough for some lenders. Work With a Pro: A mortgage advisor can help you build a strategy and connect you with lenders who offer flexible solutions. Collections are common, but they can absolutely block your path to mortgage financing. Whether you knew about them or not, the best approach is to take action early. If you’d like to find out where you stand—or need help navigating your credit report—I’d be happy to help. Let’s make sure your next mortgage application has the best possible chance of approval.