Magnetic Mortgages recently celebrated its 10-year anniversary, a period that has seen the company become a major player in the private lending space.
“Essentially, we’re boutique in size,” CEO Chris Nichilo says, “but we play a little larger.”
By focusing on consumer education, Nichilo not only garnered himself the 2016 Canadian Financial Literacy Award from Mortgage Professionals Canada, he has also turned countless clients on to the investment potential of private mortgages, which provides an intriguing opportunity for Realtors whose clients are having trouble securing financing.
“We provide a real solution for them,” Nichilo says. “By teaching Realtors how they can teach their customers to invest through real estate lending, it becomes an alternative for them.”