Professional Commercial Mortgage Services including CMHC Mortgage Insurance
The Real Estate Investor's Best Friend
Mike's Direct Line
The Real Estate Investor's Best Friend
Mike's Direct Line
• CMHC Insured Multi-Family Residential Mortgages
• Conventional Multi-Family Residential Mortgages
• Mobile and Modular Home Park Mortgages
• Land Assemblies
• Construction & Development Properties
• Motel & Hotel Properties
• Retail Liquor Stores & Pubs
• Mini Storage Facilities
• Plaza, Office, Retail & Industrial Buildings
Any mulit-family rental building or construction project with 5 suites or more is eligible for a CMHC insured mortgage.
These mortgages are, by far, the most common commerical mortgage that is negotiated directly with the lending institution or party.
There are many varied reasons for a borrower to select a private mortgage. Be it a first, second or third mortgage, the most obvious being necessity as the borrower cannot meet the strict criteria of institutional lenders and/or the private lender's increased flexibility and shorter approval time. Despite the higher interest rates and fees, if used judiciously, a private commercial mortgage can very advantageous overall.
Used mainly to facilitate a purchase and sale of a property, with this mortgage the Seller accepts a certain per centage of the financiing with terms negotitiated between the Seller and the Buyer. The mortgage can cover all of the required mortgage after considering the Buyer's down payment or any agreed per centage of it.
First and foremost, a good professional mortgage broker knows each of his specific lender's loan preferences. This enables the broker to focus on a few select commercial lenders in BC that have an appetite for your specific type of loan. This avoids the "Shotgun Approach", whereby commercial loan requests are fired off to multiple lenders, in the hopes that the more mud that is thrown against the wall, the more that will stick. The real harm from this approach is that lenders do not like loan applications that have been shopped all over town, and usually view these files disdainfully. Let's be honest, as there are currently so many loan applications and so few lenders, the lending officers are very selective. Every advantage you can get counts toward a timely mortgage approval.
Secondly, commercial mortgage lenders have said that if they can't understand the basics of a mortgage application in less than 15 minutes, they deem it either poorly organized and presented or too complicated. In either case, they discard this file and pick up the next one. As a CPA/CGA, I talk their language, I know how to establish the basic highlights and potential problems with your application. I present the facts to a lender in a clear, concise manner. This technique alone greatly increases our chances of obtaining a commercial mortgage lender's approval.
Finally, always remember it is the lending institution that pays the lending officer's pay cheque. Thus, when push comes to shove, the commercial lending officer will ultimately favor his employer in any lending negotiations. In contrast, as you are my only client, I owe an undivided fiduciary duty and loyalty to you. This fact will be of great importance to you as I negotiate the mortgage interest rates and terms on your behalf.
When you think about it, your time is very valuable and you are not a commercial mortgages specialist. Since you wouldn't use an amateur to a job worth hundreds of thousands or even millions of dollars, you can either spend years learning how to be a commercial mortgage specialist or hire someone who already has the experience. Many companies and investors are now making their commercial mortgage broker a valuable, long-term member of their commercial investment property team, along with their lawyers and accountants.
Hiring a professional commercial mortgage broker frees you up to do what you do best, grow your business.
TO WHOM IT MAY CONCERN
We are pleased to recommend Mr. Mike Mullin to act as your realtor and if necessary, your mortgage specialist in the endeavor of acquiring
commercial properties. We appreciated his integrity and his considerations throughout our dealings.
The due diligence he maintained and monitored every day from presenting our offer, to negotiations, to completing all subject matters was very highly efficient. His diplomacy during these negotiations was commendable under a sometimes difficult situation.
As a Certified General Accountant, Mr. Mullin has a complete under standing of small business operations and the requirements they need to put forth for mortgage applications. He is able to communicate on behalf of his clients for a choice of mortgaging options to suit their situation.
We are still in the market and will not hesitate to work with Mr. Mullin. He continues to pursue further interests on our behalf.
Arthur & Joyce Bates
TO WHOM IT MAY CONCERN:
Mike Mullin has our support and our strong recommendation for your commercial mortgage and real
Mike perfectly executed a manufactured home park mortgage for my family in 11 days, as another
lender failed to meet our expectations in the last two weeks of our deal. He not only completed the
deal in an unforeseen time crunch he did so and saved us thousands in interest and fees. His avidity for this specific niche of the market is clear in all of his efforts. His in-depth
knowledge of accounting and tax implications gives him the edge over any other broker in the
commercial field. Your decision to use someone of his caliber will be rewarded once communications
I look forward to a long and successful relationship with Mike backing our business plans.
Chris Cowan, CEO
Hygge Holdings Ltd.
My husband and I were most fortunate to have found you, Mike, as our real estate agent. Our purchase of a 6 suite apartment building in Port Alberni and residential rental home in Courtenay in June 2016 was extremely successful because of your professionalism, superior knowledge of financial strategies, and impeccable attention to contract details and due diligence. Your love of real estate and experience made it easy to trust you completely to find us the best possible properties. We would highly recommend you Mike, to anyone buying commercial or residential real estate!
With sincere thanks,
Terry & Brian Olsen
To Whom It May Concern:
Mike Mullin has been my commercial realtor and mortgage broker for various multi-family properties over the last three years. His advice has always been sound and his work organized and beyond diligent – he always went the extra mile to make sure we were on tract and more often than not, he did the buyer’s research for us! Absolutely nothing is missed with Mike. He isn’t a pushy salesman; he is a true professional you can trust to assist you in every aspect of a commercial real estate decision and purchase.
Carole Tootill. Nanaimo, B.C.
I have met many a realtor, but none like Mike Mullin. Mike’s background in corporate finance gives him the unique ability to see investment real-estate through the numbers in a way I have never experienced. Combine that with his mortgage capability and the conversation around the quality and opportunities of a property are vastly different and in-depth on the things that matter. Mike’s personal commitment to service is more than stellar. He writes offers so complete our lawyer was amazed! Mike is exceptionally committed to a client’s goals to the extent that he has recommended walking from a deal late in the purchase process, because it is the right thing to do in the circumstances. For most of us, that is very hard to do when you are that vested in a deal!
Laird Robertson, Nanaimo, B.C.
" I have worked with Mike Mullin twice in purchasing businesses with property and have found him to be very knowledgeable with a large amount of experience to draw upon. He is a man of integrity and wisdom that helped me to do a deal that was, despite it's challenges, fair and safe for both myself as buyer and the vendor. I look forward to working with Mike Mullin in the future."
Terry Burnett, Sayward, B.C.
Copyright © 2020 DLc - BlueTree Mortgages - West
R. Mike Mullin, CPA, CGA - Licensed Commercial Mortgage Broker, throughout B.C., specializing in Commercial Mortgages, Investment Mortgages, ICI Mortgages, Re-financing Mortgages, CMHC apartment building mortgage insurance, Multi-Family Mortgages, CMHC Multi-Family Mortgage Correspondent for Purchases, Re-financing & Construction Mortgages Based on Vancouver Island, serving All of BC.
Vancouver, Victoria, Nanaimo, Comox Valley, Courtenay. Comox, Port Alberni, Campbell River, Port McNeill, Port Hardy
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