real estate help edmonton – Self Directed RRSP Mortgage
If you would like to be able to use your rrsp money to fund real estate then you need to set up a self directed rrsp mortgage. Once you have done this you can use the money to buy real estate with a real estate investor. You would make money inside of your rrsp at an agreed upon rate of return that would be secured to the real estate. This is better then mutual funds and the stock market in most cases.
The problem with this is not so much the real estate going down in price, but the investor you are investing with. If you are investing with someone that is not experienced in real estate then you may lose money. Simply because this person may have bought the property in a wrong manner, or maybe they do not know how to manage the property. Any properties I have been involved with we have always used a certain buying criteria. Yes, this protects the investor, but protects us as well. And anybody who you are going to invest with should have some form of buying criteria.
There is other types of mortgages that you can invest in without having to be self directed. Some give normal returns, while others give returns of up to 23%. But do your homework before pursuing. As with any investment you need to know all you can before making the investment.
How to Set up a Self Directed RRSP Mortgage
Here in Edmonton, I use a Calgary company. I do not work for the company, but can not use their name freely. The way I found them though was to call up my bank and ask where I could do this the easiest. Of course they were not wanting to give the info, but that is the easiest way. Or you can contact me and I will send you a private email.
After you set up an account with a trustee you will be able to lend your rrsp money to the highest bidder, or maybe more important the most secure bidder. Why take 15% from some hotshot when you can make 12% from as astute investor? Not sure about you but the extra 3% does not make sense with the 3-4 times risk involved. But that is just my thoughts.
Whatever your reason for wanting to do this know one thing. That you can not under any circumstances set up a self directed rrsp mortgage then go and buy an investment property yourself. Or with a partner, or with any family member. In fact the rule states you must be outside of arms reach to invest your rrsp mortgage with that person. And arms length means any relationship through blood or through marriage.
Interested in getting a return of 23% per year in your rrsp, tied to real estate? check out Best RRSP Rate
Kelly Kramer owns a plumbing company and buy and sells real estate, if you liked this article you can learn more at http://www.edmontons-business-directory.com
Article Source:
http://EzineArticles.com/?expert=Kelly_P_Kramer
Local News – Surrey, BC
Know a good local news Web site not listed here? Submit it to the Yahoo! Canada News team and we might add it to the site. Click here.
Ok so 3 more posts today that I’ve dug up – I’m an information JUNKIE on this stuff lately. Give em a browse and let me know what ya reckon. They’re just from a few different sites I’ve been surfing lately that are generally good for information like this…
… from the gallery walk and unique shops of Jasper Avenue and 124 Street. Some of Edmonton's finest art galleries and restaurants. A few steps to the beautiful river valley and bus at the door. MLS# E3222140. Back to Condo Listings.
Downtown Edmonton Real Estate: Properties On High Street Condos
Properties On High Street Condominiums 2009/2008 Real Estate Market Update Location: 10108-125 Street, Edmonton, Alberta, High Rise – Zone 07, Westmount 5 condos have sold in 2009 in Properties On High Street high rise through MLS® …
Great condo for sale in the Valhalla. Located at 11307 99 ave in Edmonton. Visit our site for more information on the 2 bed 2 bath condo for sale.
Hope you enjoy the read as much as I did and please if you have something to say, use the comments form below to let everyone know your thoughts.
Have a great day!
Mail this post
