Mortgaging Muskoka...

When I relocated from Ottawa to Oakville, I encountered a tranquil atmosphere during summers that was new to me. Families would pack up for weeks or even the entire summer to head towards Northern destinations that I had not heard of before.

As I grew older and my summer schedule became less occupied, I observed a similar sensation in downtown Toronto during summers. It was a result of both busy professionals leaving the city after a hectic work week and others departing to spend time in the North of the City.

Following a couple of years in commission sales and securing an affordable downtown condo, I was finally able to achieve my aspiration of purchasing a property on a small lake just outside Port Carling in my 20's. It was nothing short of a dream come true: living in the bustling and lively city during the weekdays, and spending weekends and weeks at a time during summer in this idyllic Northern oasis that had eluded me during my childhood.

This purchase not only allowed me to achieve my personal goal but also presented a business opportunity. For the first time, I was no longer geographically restricted and could expand my business to different locations. With the help of modern technology, I could operate seamlessly in either location, without any hindrance.

Through investing a significant amount of time in my personal and professional development, I swiftly emerged as a highly sought-after contact for financing the ultra-luxurious properties in the Muskokas. My possession of both a Toronto and Muskoka address offered clients and referral sources the flexibility to choose the location of their preference for meetings and signings. This was a time when technology had started to gain momentum, but the idea of electronic signatures had yet to become widely accepted.

When I relocated to Toronto, it naturally followed that I would do business in the city. Owning a property in Muskoka prompted me to conduct business in the area, too. However, it was only after moving to Oakville that I had a pivotal "aha" moment. I realized that I could conduct business in any location I desired or enjoyed spending time in. Thus, Muskoka led me to Collingwood, while having family in Florida opened up recent opportunities for me to conduct business in the state. Furthermore, my marriage to an American has paved the way for me to engage in business dealings in Chicago and Wisconsin.

It's amusing to reflect on how life and business often unfold in unexpected ways, leading you down paths you never anticipated. In a world that can at times feel restrictive and monotonous, geography has been my saving grace, keeping things interesting and exhilarating. It has given me the opportunity to meet incredible individuals who I now regard as close friends. Travelling has allowed me to broaden my horizons, make new connections, and keep my business from becoming stagnant and dull. While it can be challenging, frustrating, and always hard work, it remains fresh and enjoyable.

Financing properties provides a unique insight into how people conduct their affairs. Real estate can serve a variety of purposes - at times, it's merely for shelter, while other times it creates wealth. It can be a part of an investment strategy or a way to consolidate debt. From principal residences to short-term rentals, fix and flips, student rentals, construction for profit or principal residence, development, vacation and recreation homes, I have encountered them all. Learning to finance unique properties is both exhilarating for me and, more importantly, for those acquiring the asset. Regardless of the type of property or its intended purpose, I am always enamoured with the memories it creates at every stage of life.

My experiences in financing properties and traveling have taught me that geography plays a significant role in shaping our lives and businesses. Exploring new places, meeting new people, and conducting business in different locations has opened up a world of possibilities for me. It has allowed me to step outside of my comfort zone, expand my horizons, and make meaningful connections that have enriched my life in countless ways.

I encourage you to consider how travel and real estate can be leveraged to make a positive change in your own life. Whether it's investing in properties for financial gain or purchasing a vacation home to create lasting memories, the possibilities are endless. By embracing new experiences and embracing change, we can unlock our full potential and create a life that is both fulfilling and rewarding. So, go ahead and take that leap of faith – you never know where it might lead you.

Scott Westlake https://thewestlaketeam.com/

Disclaimer: Please note that all locations where I conduct business, whether directly or through referrals, have the appropriate licenses and compliance in place, as required by local regulations. As a licensed professional, I abide by the rules and regulations of the areas where I operate and ensure that all necessary permissions and approvals are obtained before conducting any business transactions while also considering my local licensing and responsibilities. However, it is important to note that specific licensing and compliance requirements may vary depending on the location, and it is your responsibility to ensure that any transactions you conduct comply with local regulations.