OMJ Mortgage Capital is a commercial mortgage broker that can help you find land and development loans. We can get you the best rates and terms, but you must compile some of the following documentation. 

Beyond what you’d expect, like proof of identity and government-issued identification, verifying your income with a series of financial statements that go back several years is essential. You’ll also need to put together and document your assets, including investment accounts, bank statements, and any of your other real estate holdings.

Don’t Forget The Land Appraisal

Remember that the land appraisal you’ll need makes one of these purchases unique. A professional needs to do this so you can get the exact amount of the parcel that you want to buy. It’s also essential to help any lender determine the loan-to-value ratio.

A Detailed Description Needs To Be In Order

 Don’t forget that an environmental assessment might also be in order. It’s important to include a detailed description of the project here. It needs to have the purpose, any relevant activities that will go on, and the size and location.

 The environmental assessment also needs soil and water studies. Local animal sand trees need to be looked at.  These assessments need to be thorough. Cutting corners can bog your business ventures down. 

Potential impacts air and water pollution angles and their impact on local communities and wildlife should also be studied. 

Looking for a Commercial Mortgage Broker?

OMJ Mortgage Capital is a commercial mortgage broker that can help you with this land and development loan aspect. We are a boutique-sized mortgage broker in the GTA with an outstanding track record and decades of experience funding literally billions of loans.  Take a look at the clients testimonials on our website.  They will show you how easy it is to expand your business using our services.   

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Starting a business? Here’s a few tips on making sure that begins the right way.

• Don’t forget to make a business plan. Some people who are looking for commercial mortgages put the cart before the horse. Especially when they are trying to start a small business. Neglecting to put together one of these important plans will make it extremely difficult to get any kind of financing. Not only that, a good business plan serves as a rallying point by providing milestones for your business as it grows. Plus it helps you get commercial mortgages.
• As an experienced commercial mortgage broker, we’ve seen some other mistakes like buying assets with cash flow. Don’t buy any long-term assets using operating cash. It’s a recipe for disaster and a path to a cash shortage.
• Here’s another common mistake that newbies make when they are starting an enterprise. Don’t set your prices based only on what the competition is charging. You need to do research for each and every product that you have in your inventory. You’ll also need to monitor actual costs as things go along so you can make any necessary adjustments.

When it comes time to expand your business or perhaps buy a piece of land for an extension, we can help with our commercial mortgages service. Our team of ex bankers has the experience and knowledge to be able to work on complex deals involving financing for properties like gas stations, hotels and retirement homes.

Commercial Mortgages in A Few Days

Our commercial mortgage broker team can get you a letter of intent for commercial financing in only a few days. Get in touch with us today so we can help you get started with your business.

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Here’s a few tips on how to hire the best employees.

Social Media

There are excellent social media websites to announce openings at your company. They include Facebook, LinkedIn and Twitter. Getting employees to post about job openings at your business helps too.

Using social media is a good way to find the right candidate for several reasons. It helps you to target the demographic that you are looking for.

Professional Associations

Another good source  are professional associations. These are a great way to focus on your industry. Look for websites that have job boards. Member directories are another good source for candidates.

Look For a Culture Fit

It’s important to find someone who can fit in with your company’s other employees and culture. Social skills are an important aspect of the whole package. As a Toronto commercial mortgage broker, we strive to get along with all of our clients and coworkers. You should look for people who do the same when you are looking to fill vacancies at your company.

Hire Interns

Hiring an intern means you get to know someone’s strengths and weaknesses right away. You’ll be able to get a good idea of their confidence levels, skills and knowledge. It’s a kind of dry run for your employees that works wonders.

When the time comes to look for a business property, remember we are the best choice for a commercial mortgage broker in Toronto.  Together, our experts have over four decades of industry experience that you can draw on. We have access to almost all of the major lenders here in Canada.

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Here’s just a few things that you’ll need to know.

• There is going to be a few financial checks involved to make sure you get the best mortgage rates. These will include at least three years of tax returns or accounts. You’ll also need to have projected and current performance figures and bank statements.
• A lot of your commercial mortgage application will hinge on your credit history. However, as far as a business loan goes, there are other factors that come into play. You need to have a good overview of your enterprise that includes a business plan and financial projections.

Finding a good commercial mortgage broker is critical. You need to consider several different things. They should specialize in these types of mortgages. Remember, a commercial mortgage is usually more complicated than a residential one. Make sure that you find a broker that has experience.

Satisfied Clients

Get some testimonials. The broker you are considering should have a list of satisfied clients they will share. Being able to contact these people speaks volumes to the broker’s credibility.

Pick one that has good communication skills. They’ll need to negotiate the terms and go through the process on your behalf. This takes a little time and expertise. A good mortgage broker will also keep you in the loop as the whole process moves forward.

Industry Experience

We have a team of professionals with over 40 years of industry experience. They have direct access to all of the major lenders in Canada. If you’re looking for a commercial mortgage broker with value added service, you’ve stopped on the right website

The post Here’s Our Commercial Mortgage Broker Tips To Get You Started appeared first on OMJ Mortgage.

Statistics show us that about 60% of the small and midsized business owners in Canada are 50 years or older. That’s a statistic from 2017.

Understanding what to do when the time comes is as important as getting the best mortgage rates when you’re starting out. There are a few options including passing your business down to a successor. This can be a family member or someone in management in the company.

Commercial Mortgage Broker Toronto Advantages

There are some advantages to using this system. For example, there’s not as much third-party involvement and you can stay influential if you choose.

One of the big hurdles can be choosing the right successor. This can be especially true if you’re picking from the ranks of your own family. It can cause a lot of conflict.

 More Commercial Mortgage Broker Tips

There are other options including employee buyout. This is a scenario where the employees or management get together and put their resources together. They buy a portion or all of the company. It’s a great way for owners who don’t have a successor and a perfect method to preserve your company’s culture.

One of the big advantages is an employee buy out that rewards long-term workers for their loyalty. It can become complicated because the vendor take back becomes a big possibility.

As your commercial mortgage broker Toronto, we want you to have all the information necessary to make the right choices. We can handle getting you the best mortgage rates. You’ll need to look after succession planning with these tips.

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Big Bump

For example, we saw a big bump in the demand and price for different types of condos in the Toronto area last year. That spike was partially due to the fact that single-family homes and GTA townhouses were considered unaffordable.

We’ve been keeping our eye on the market again this year. That said, here’s some predictions for 2019 that we can use to help you get the best mortgage rates.

Condo Sales Level Out

First and foremost, our crystal ball is seeing that condo sales may level out. Even though experts are predicting that this type of demand will slow down in the new year, no one is saying the condominiums won’t still be one of the big sellers in Toronto in 2019.

Still, it’s important to be aware of the supply and demand angle. There are quite a few new developments underway. So many in fact that it’s inevitable that the sales for condos are likely to hit a level this year.

Commercial Mortgage Broker Experts

As your commercial mortgage broker experts, we are also predicting that homes that are priced over $1.5 million will take some time to sell in 2019.

Although there are some headwinds developing against the new mortgage stress test, it looks like interest rates have risen to a point where homes in this particular price bracket might sit on the market.

Rental Units

We are also predicting that rental units will increase their rates in the GTA. Even though many people are turning to condos as a way to break into the real estate market, the tough mortgage requirements and high prices are keeping others in rental situations.

We are predicting that this trend will continue on this year. Remember, we are the commercial mortgage broker that’s keeping an eye on these trends for you.

The post Toronto Real Estate Predictions for 2019 From Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

Here’s a few of the ingredients that go into that successful business character trait.

Interest

Perseverance is a part of any successful company. As a commercial mortgage broker, we understand that because we run our own outfit. However, there’s another ingredient that keeps a business engine moving along and that’s interest. Most of the people who are really top-notch in the business world are following a passion that’s the fuel that keeps them moving forward.

Hope

One of the first things that you’re going to learn in any business is there are going to be setbacks. It’s one of the big reasons that people with grit succeed — they know how to harness hope when things aren’t looking very good.

Here’s an important difference. Some people will hope that things turn around but a truly successful business person will harness their grit to make sure that they succeed by their own efforts.

We look after each and every one of our commercial and residential clients by harnessing our own grit. We’re never satisfied until we find you the best mortgage rates whether you’re looking to set up a business or buy your first house.

Finally, one of the other big characteristics of gritty people is the fact they are always improving their skill sets. It doesn’t matter at what high-level the most successful entrepreneurs are currently performing, they are always looking to better themselves.

We use the same techniques as your commercial mortgage broker.

The post How to Stay Gritty in Business from Your Commercial Mortgage Broker appeared first on OMJ Mortgage.

That’s why we’d like to pass along what we found to be the top marketing priorities for 2019. Hopefully, these can help your business get to where it needs to go.

Consider a Loyalty Program

First and foremost, if you don’t already have a loyalty program, you should consider creating one. It’s important to keep in mind that this doesn’t need to cost you an arm and a leg and you don’t need to hire a team to get a good loyalty program up and running. All you really need to do is consider integrating a few marketing channels with your message by using easy online tools like Facebook or Mailchimp.

However you go about it, our advice as your commercial mortgage broker needs to center around customer retention. Over the years that we’ve been in business, we’ve come to see our valued clients as just as important as our employees. That’s why we are always tweaking our services to make sure they get the best in what’s innovative and the most recent.

The Best Rates From Your Commercial Mortgage Broker

We look at it this way. While it’s important to get you the best mortgage rates of any commercial properties, we also think having a constant ongoing dialogue will help us to keep relevant to your changing needs. That’s why we think it’s important to look into things that create constant two-way communication like a loyalty program using social media.

Keep in mind that we’ve learned as your commercial mortgage broker, the digital age is always presenting new possibilities.

The post Top Marketing Priorities for 2019 from Your Commercial Mortgage Broker Professionals appeared first on OMJ Mortgage.

If you look a little further, you’ll see that some kind of digital inventory software and a point of sales system are two of the software tools you can’t do without.

Here’s a few ways that technology can help your retail business get to where you need to be.

Lower Inventory Costs

Updating your database electronically is one of the keys to controlling your inventory. That’s why all the experts are telling us that having some kind of inventory software is as important as having the right goods and services.

Transferring everything over to the online model takes a bit of time. However, once it’s done, you’ve got an instant information analysis tool at your fingertips.

Software Programs

Make sure to look for one of the software programs that will allow you to create not only new categories but subcategories. It should also allow you to view products by price, date received and a variety of other metrics like UPC code.

Bump Customer Satisfaction

In the end, making sure that your customers are always happy is the bottom line. That’s why we are always looking to get the best mortgage rates for you. As far as technology and retail businesses go, using the right software lets you tell your customers what’s available in real time. In today’s retail world people expect nothing less.

Better Your Commercial Mortgage Broker Forecasting

One of the other innovative technologies you can use is statistical forecasting. This software will give you a great selection of past sales data and predicted future orders. Technology is an important member of your retail business team just like our commercial mortgage broker services. Why not get in touch with us today?

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