Tom and Nick Karadza are real estate professionals that are focused on helping real estate investors in the Greater Toronto and Golden Horseshoe areas create income to live life on their terms. They are active real estate investors and in 2008 they launched Rock Star Real Estate Inc., a Canadian real estate brokerage focused exclusively on real estate investments. Together with their team of professionals based in Oakville, ON, Tom and Nick have worked with investors to help acquire over 2 Billion dollars of investment in real estate and implement profitable investing strategies across southern Ontario.
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.