On today's episode of Investing To Win, Garret Wong talks with Mike Schroeder, an experienced mortgage specialist with Mortgage Architects and Accredited Mortgage Professional of Canada Designation. With his wife Candace, he runs a mortgage business specializing in private real estate financing for established business owners and first-time home buyers. Outside of work, he enjoys spending time with their 4 children, backcountry hiking, reading, and CrossFit.

Mike will talk about his former position as a manager at Enterprise Rent-A-Car and why he changed his career to become a mortgage broker.

Working with real estate investors is different from working with first-time home buyers. Mike will explain why as he shares why he doesn't recommend long-term, fixed-rate mortgages to first-time home buyers. You'll learn how mortgage rates have changed over the past five years and why fixed rates have dropped recently but variable rates haven't. Mike will explain why he recommends a variable rate mortgage and who it is suitable for. Through his explanation, you will understand why adjustable-rate mortgages are increasing and why the real estate industry is not always negatively affected by recessions.

He will explain why he believes investing in real estate still makes sense and present a strategy for young people who want to invest in real estate and build equity.

Mike also values staying fit and will talk about his thoughts on leading a healthy lifestyle for business owners. His morning routine and how he structures his work and fitness schedules will offer tips and inspiration for living a healthier life while building your business.

Join Garret and Mike in this insightful discussion on mortgage rates, fitness for business owners, and much more!

Enjoy! 

What You'll Learn in this Show:

• How Facebook groups have brought him a lot of business.
• The differences between fixed, variable and adjustable rate mortgages.
• Are bank penalties higher than those of credit unions or monoline lenders?
• A long-term investor's perspective on fixed vs. variable mortgages.
• Why do variable mortgage rates keep going up?
• How you can end the recession.
• Is real estate still a good investment?
• His definition of success .
• And so much more...

Resources:

Upper Edge Capital

Garret Wong LinkedIn

Mortgage Architects

Mike Schroeder LinkedIn