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Investing in Private MortgagesConsumers Choice Mortgages Inc. has been specializing in private mortgage lending in BC for several years and has successfully brokered millions of dollars of private mortgage funds for our private investors. The majority of our business is referred to us by other licensed mortgage brokers in BC. Investing in individual private mortgages does involve some time and effort on the part of the investor. Previous experience in investing in private mortgages is definitely an asset but not essential. We work closely with our private investors to ensure that, as much as is possible, investors’ funds are secure and provide a fair rate of return. Based on our extensive experience in the BC private mortgage industry and the type of mortgages that will be suitable as private mortgage investments, our investors receive a rate of return of approximately 7.99% - 8.99% per annum for good quality second mortgages and 5.99% and up for first mortgages. Individual “arms-length” mortgages can be held within a self-directed RRSP account where the income is tax-sheltered. We can provide a list of financial institutions who offer plans that allow private mortgages as eligible investments. Investors are responsible for:
Disclaimer: This discussion is intended to be a brief summary only and is not a detailed description of what is involved in individual mortgage investing. Contact us to find out more about investing in private mortgages and whether it is right for you. Ask for our “Guide to Private Mortgage Investing” for additional information. |
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