July
12
2012
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Quick question: Is there any possible way to leverage/divert my existing RRSP funds towards a downpayment for a real estate investment opportunity?
Thanks!
Rick.
The only way we know of in Canada is to invest in “2nd Mortgages” via a Mortgage Broker or Real Estate Lawyer who has people looking for them. We know quite a few people doing this with success. Some Canadian banks don’t allow it … they want you to invest in their products of course. So you’d have to ask your bank if you can do it from their self directed RRSP. I believe TD allows it (with applicable fees). Hope that helps!
- Tom.