We are driven by creative.
Who We Are
Welcome to join the one of the largest private mortgage lenders and real estate investors network in Canada. We are: licensed mortgage agent, licensed mortgage administrator, licensed real estate agent, and we share our deals with one of the largest second mortgage lender networks in Canada; We are all lenders just like you. Join us! Either sign up or email us at signup@mylendingspace.com
We also host monthly event; watch out for event announcement from http://www.meetup.com/Toronto-Private-Lenders-Meetup/
Why Lend on a Second Mortgage?
EASY, FAST, CONVENIENT
Why Lend on a Second Mortgage?
Return
8-12%, depending on which deal you decide to invest in.
TITLE
Lenders Are On Title of the Property
Term
Mortgage Term is 1 Year or Less
Property
All properties are in Greater Toronto Area and surrounding areas.
LTV
LTV(Loan to Values) is at or below 75, meaning each property has at least 25% owner equity. if market falls the owner's equity provides a buffer to your loan.
FORMS
No Extra Work is Needed - Just sign investor disclosure forms electronically.
FUNDS
Lenders send money directly to lawyers' trust account and the lawyers execute the entire deal process.
No Fees
Lenders pay NO FEE with all of our deals. The borrower pays all the fees.
Penalty
Lenders can get a penalty if the deal when it default.
01
SIGN UP
SIGN UP to be notified of all our deals; we post deals every week and they are funded quite quickly. Either sign up or email us at signup@mylendingspace.com We also host monthly event; watch out for event announcement from http://www.meetup.com/Toronto-Private-Lenders-Meetup/
02
REVIEW PACKAGE
As soon as you see a deal summary that you are interested in, contact us immediately to request the deal package, which will include the property appraisal for your review
03
REGISTRATION
After confirmation that you will invest, we will obtain your legal name (or business name) to be registered on title to start the paperwork.
04
DEPLOY
When the borrower signs the mortgage commitment, we send the deal to the lender lawyer to start executing the deal right way.
05
CLOSE THE DEAL
Meanwhile we will send you the forms and bank draft instructions to close the deal
06
DUE DILIGENCE
Lawyers due diligence is complete such as checking the title, insurance etc. Lawyers close the deal, register you to be on the title of the property and disbursement the money. It typically takes 1 week to close a deal.
07
FINAL PACKAGE
You will get the package mailed to you within 30 days of deal closing
08
MONTHLY INTEREST
We will EFT your monthly interest as admin directly to your bank account when it is provided.
These are our works.
Typical Deals
GREAVES
Location: Lindsay, ON
Type: Detached 2Bed 2Bath
First Mortgage: $130,000(RBC)
Requested Second Mortgage: $75,000
Appraised Value: $400,000
LTV: 51%
Rate: 8%
Term: 12 Months PREPAID
Minimum Investment: $37,500
MOHAMED
Location: Markham, ON
Type: 2 Storey Detached, 4Bedroom, 6Bathroom
First Mortgage: $1,072,000(BNS)
Requested Second Mortgage: $104,000
Appraised Value: $1,680,000
LTV: 70%
Rate: 9%
Income: $197,000 (Combined)
Term: 12 Months (3 month interest bonus if paid out early)
BONAGURO
Location: Milton, ON
Type: 2 Storey, Attached Home
First Mortgage: $450,000
Requested Second Mortgage: $40,000
Appraised Value: $735,000
LTV: 66.6%
Rate: 9%
Income: $80,000
Term: 1 year
Minimum investment: $40,000
JOSE
Location: Toronto, ON
House Type: Condo 2 Bedrooms, 1 Bathroom
First Mortgage Balance: $145,000.00 with MCAP
Appraised Value: $360,000.00
LTV: 74%
Rate: 11%
Term: 12 month term
Income Combination: $94,035.39
These are our statistics.
statistics
PASSION. DEDITION. DETERMINATION
Meet The Team
Cindy Shen
Founder And CEOCindy is a serial entrepreneur, with a passion for building financial companies and technologies to make lending easier and faster for everyone involved. Cindy has more than a decade of banking experience, and is a private lender herself, building a pipeline of deals exceeding 10 million in the first year. Cindy is a graduate of Ivey School of Business at the University of Western Ontario.
Calvin Wang
Business Development Manager
Shirley Ma
Marketing DirectorEx TV Producer Director
Multimedia Designer
Focus on managing online platform development and APP development
Yeni Liang
Operation Manager
Yang Yang
Bookkeeper[wpgmza id=”1″]