Private Money & RRSPs – Episode #85
People are not aware about their options when it comes to using private money and more specifically their own RRSPs when it comes to Real Estate Investing.
You can borrow someone’s RRSPs as a debt vehicle or you can lend your own RRSPs to someone and earn a higher interest rate. This can be a big win-win for both the borrower and lender. Essentially, you can act as the bank and lend your RRSPs or as a borrower, instead of going to the bank to borrow money, you can borrow someone’s RRSPs.
We interview Marcel Greaux who is a Mortgage Agent with Dominion Lending and his specialty is working with Investors and Private Money. You can reach Marcel at 647-280-4454 or visit his website: www.TorontoRealEstateClub.com.
There are several reasons why an Investor would need to borrow private money and we discuss these reasons in our discussion. There are also many reasons why someone would want to lend their money or RRSPs to an Investor and we discuss these reasons as well.
This can be another great investment strategy for some people. As a result, I hope this episode gives you some ideas you are able to implement and benefit from.