Private Mortgages for your RSP’s or Cash Investments

 

We discussed Private Mortgages for your RRSP's or Cash Investments in Free Coaching Friday.

Most RRSPs are held by a deposit-taking institution that offers a variety of investment options. But in a self-directed RRSP, investors are free to choose other types of investment products, such as debt instruments. “In self-directed mortgages, you can use the money saved in your RRSP to fund mortgages".

For instance, if you had $100,000 in your RRSP, you could convert this investment into cash (this won’t trigger a tax hit) that you can then loan out (known as a non-arm’s length mortgage)—either to yourself, a family member a friend, or a stranger.

How do you do this?

There are strict rules. Any RRSP mortgage must be administered by an approved lender, known as a trustee such as Olympia Trust and the interest rate you charge, along with all loan conditions, must reflect normal commercial lending practices. Olympia Trust company allows up to 100% of the value of the property as a 2nd Mortgage.

To learn more, watch Free Coaching Friday live video on Facebook here.

 

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Mindset - Nothing Changes Until You Change

 

In Mindset Monday, today's topic was Nothing changes Until You Change.

Let me ask you this..Its already end of the First month in New Year, “how many of you fellow members have started taking actions on achieving your next goal?” Have you been complaining of the economy/market outlook, your relationship or your weight loss program being not so effective?

Well, let me tell you this... We can not control others, we only control ourselves. Always remember: we cannot always change a situation, so we must challenge ourselves to change.

 

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Why the GDP matters and why it doesn’t!

 

Gross Domestic Product (GDP) is one of the most widely used measures of an economy’s output or production. It is defined as the total value of goods and services produced within a country’s borders in a specific time period — monthly, quarterly or annually.

GDP allow policymakers, economists and business to analyze the impact of such variables as monetary and fiscal policy, economic shocks such as a spike in oil price , as well as tax and spending plans, on the overall economy and on specific components of it.

GDP can be calculated either through the expenditure approach (the sum total of what everyone in an economy spent over a particular period) or the income approach (the total of what everyone earned).

Canada ranks 10th in the world's largest GDP. The major factors that drive Canada's growth is Oil, Gas, Mining, Manufacturing, Agriculture and Construction. Saskatchewan contributes 4 major drivers out of 6 which we should be proud of as Canadians.

To learn more how GDP affects the businesses and our lives watch this video.

 

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The reason why I have brought this topic is because by now we all should know that Learning is a Lifelong Process of keeping Abreast of Change.

No matter how long you've been investing in Real Estate, things changes all the time such as Economy, Market, Rules & Regulations etc. With such diverse factors affecting the investing process, if One would say that he/she has mastered the Investment process and will survive in any economical conditions, I wish him/her Good Luck.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.

I am passionate about helping new and experienced real estate investors grow their real estate portfolios and build a passive income lifestyle that gives them greater financial options and opportunities. My vision is to empower people by educating them on financial options.

Over the last nine years, I have built my own real estate portfolio to over 520 doors with a value of $60 million. I focus on long term buy and hold, apartment buildings and multi-family units.