In today’s Finance Minute let’s talk about how you can use your own money to lend to other people, just like the Banks. The banks are in the business of getting you to keep your money with them via savings, GICs, TFSA, Mutual funds and then what do they do?  They lend the money out for a much higher interest.  In other words they make money from your money.  The banks are smart though they will not just lend the money to anybody.  They have to have collateral, they have to check somebody’s credit and capacity to pay. I call these the three C’s of credit.  

What if you have that ability too?  You become the lender?  There are many ways for you to invest your money by being a lender.  I know of many who use their RRSPs, savings, and extra cash to invest in mortgages or real estate lending.  They get better returns, they have collateral which is the property, they know the credit history of the applicant, and they know the capacity of the applicant.  No you don’t have to do all the work.  Somebody reviews all of this for you.  So instead o f you investing your money and getting poor returns or putting your money in something you don’t understand, you will be directing your hard earned money on something tangible.  The returns on these types of investments are in the 8-10% range.  And remember you have the property as your security.  I know of reputable companies who are helping investors take back control of their money. 

If you want to learn more, call us at 604-436-4600 or contact us via the “Contact Us” page.

DISCLAIMER: The information in this post is solely advisory, and should not be substituted for legal, financial or tax advice. Any and all decisions and actions must be done through the advice and counsel of a qualified attorney, financial advisor and/or CPA. We cannot be held responsible for actions you may take without proper financial, legal or tax advice.

Karista Events & Workshops

We offer FREE educational events and workshops for First-time Home Buyers, Real Estate Investors, and a lot more!

Although we currently don’t have any scheduled webinars, we have an exciting opportunity for you to access our on-demand webinar recording. To get your hands on this valuable resource, we invite you to book a Quick Call with one of our Mortgage Strategy Managers. They will be delighted to assist you. Simply click here to schedule your call.

What: FREE Real Estate Investing Workshop
When: TBC
Time: 2:00 PM to 4:00 PM Pacific Time
Where: TBC

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What: FREE First-time Homebuyer Workshop (Online)
When: TBC
Time: 2:00 PM to 4:00 PM Pacific Time

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