Guest Vipool Desai, President of ARA Compliance Support, joins Carmen and Jordan on the show today to discuss some of the myths about mortgage investing, as well as some of the new regulatory changes in the industry and what that means for you as an investor. Vipool also explains the role of the Securities Commission, the importance and benefits of registered companies, and the suitability obligation, which is garnering so much attention. Drawing upon his vast amount of experience and knowledge, he also offers his sage advice for those thinking of investing in real estate. This is a vitally informative episode that you won’t want to miss.

Episode Highlights:

• Vipool, his business, and how he got into it
• The Securities Commission
• His advice for potential investors
• The importance and benefits of companies being registered
• Suitability and its two categories
• The misunderstanding about suitability in the public markets
• Making sure investors are safe
• The focus on real estate
• Vipool’s advice for those looking to invest in real estate

Quotes:

“We come in, we build a compliance structure for them, and we help them manage it on a go forward basis.”

“I think the most dangerous thing you can do is not invest…you need to grow a little bit, at least, just to stand still.”

“Time is the one asset that, when you lose it, you never get it back.”

“I think fear is based on lack of knowledge.”

“Registration is a minimum standard.”

“Suitability is a unique feature of the securities industry.”

“The registered firms are the babysitters and the clients are the kids.”

“What suitability does is it forces us to slow down.”

“You have to make sure that this trade is suitable unless we have a suitability exemption.”

“Real estate is one of the safest vehicles out there.”

“I think real estate…doesn’t fit very neatly into the securities concept.”

“There’s two things that you need to clear: the quality of the investment, and the quality of the people behind the investment.”

“The worst drivers on the road are reckless, but a close second are those that are too cautious…ask the smart questions…take action.”

Links:

30 Minutes to Wealth homepage: https://www.30minutestowealth.com/

Pro Funds Mortgages homepage: https://www.profunds.ca/