1. Learn how to build Wealth, attend Real Estate Millionaire Strategies Apprentice (REMSA) online or LIVE and learn Real Estate investing from experts who are in the trenches.

2. Learn unique Canadian Real Estate investing SECRETS, STRATEGIES and TECHNIQUES that will skyrocket your business and cash flow beyond what you ever imagined!

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Registered retirement savings plans allow you to invest your money in mortgages whereby you can determine your own rate of return and have the ability to place the money wherever you choose. When investing your own RRSP funds you must understand the following steps before you proceed:

1. You must understand the mortgage act.
2. You must know the interest act.
3. You must know how to write a commitment letter.
4. You must know who you can or cannot lend money to.
5. You must know the minimum or maximum interest you can charge.
6. You must know the costs involved to establish a self directed RRSP and the ongoing administration costs.
7. You must know the remedies available in case of default.

What you need to know about RRSPs
Self directed registered retirement savings plans are subject to rules and regulations which have been established by the Canada Revenue Agency. There are many options and choices available to invest your RRSP funds which may include:

1. Investing alone.
2. Investing in mortgage investment corporations (MIC).
3. Investing partially with other investors.

Legal Aspect of RRSPs
Since an RRSP is a legal document, it is pertinent that a legal opinion must be obtained in writing before proceeding. You also have to understand the requirements of the trustee (the bank who is holding your RRSP) as they may or may not allow you to lend more than a certain percentage of loan to value ratio. Keep in mind that if there is a default, the trustee is not responsible to go after the mortgagor.
Creative financing is not a substitute for 100% financing. Instead, it is utilized for the purpose of leverage, cash flow and tax benefits.
Creative financing is mandatory for investment properties where your rate of return is not the only reason to invest. It can also provide a tax shelter, help you to defer capital gains or to write off expenses against.
Every successful real estate investor would like to maximize the benefits of owning real estate apart from simply making huge profits. As a real estate investor, you can also invest as a retirement nest; to build an empire or business as a builder/developer where you intend to use other peoples’ money to create win-win situations. Since we all have very limited amounts of liquid cash, it becomes a basic necessity for real estate investors to utilize creative financing for the purpose of acquisition, development and long term holds.
 

RRSP Mortgages and Creative Financing Apprenticeship
At Canadian Wealth Builders we offer a two day intensive apprenticeship for Self Directed RRSP Mortgages and Creative Financing which will open new doors for you in the way you invest in real estate. For upcoming times and locations of this apprenticeship, please visit www.WorldWealthBuilders.com or send an email to vp@WorldWealthBuilders.com.

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Regular Tuition Fee - $9995*
Special Price for Live Presentation - $4995* (For dates and times check our calendar)
Online /Home Study Course - $3595* (Start Any Time!!)
To Register Click Here
*+ applicable taxes (GST/HST)

Further to our previous article, we like to explain more details as follows:

Can a shareholder borrow money from Mortgage Investment Corporation (MIC)?

Now, this is a tricky question. We would like to explain it to you as follows:
1)    Yes you can borrow money from the Mortgage Investment Corporation (MIC), provided that you have purchased your shares in the form of hard cash, subject to all the qualifications, rules, and regulations set up by the corporation
2)    No, you cannot borrow money if you have purchased your shares of the Mortgage Investment Corporation (MIC) inside of your Registered Retirement Savings Plan (RRSP), Registered Retirement Income Funds (RRIF), or Registered Education Savings Plan (RESP), because of the Income Tax Act.

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As a full-time Canadian real estate investor, we are required to have a good working knowledge of mortgages, joint ventures, and methods of purchasing properties with creative financing.

The Mortgage Investment Corporation, aka MIC, is a corporation who has been given a special designation by Canada Revenue Agency, as highlighted in the section of 130.1 of the Income Tax Act.

It is a Canadian Corporation which allows investors to invest their RRSP, RESP, RRIF, and money in a pool of mortgages (mostly residential mortgages) where the properties are located within Canada.

The infrastructure of Mortgage Investment Corporation (MIC) is almost similar to a mutual fund.

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