[box type=“alert”]This deal is now closed. If you’ve missed out, please sign up to our mailing list and be the first to hear about upcoming deals![/box]
This RRSP-eligible mortgage will be placed on a 2-bedroom condo in Chilliwack, BC. This deal has a strong cash flow component due to it being a Lease-To-Own opportunity with above average rents.
Funds Required: $20,000 Annual Interest Rate: 11% Interest Earned: $4400 total; quarterly payments with lump sum at the end Term: 2-year open Loan-To-Value: <90%
- Your funds must be transferred from your existing financial institution to an Olympia Trust Self-Directed plan
- With a minimum investment, we pay all administration fees for opening and maintaining the mortgage.
- We do not pay fees to liquidate existing investments within your RRSP/RRIF. These fees vary widely depending on the investment and must be paid by you.
- Interest accumulates (but does not compound) over the term. The total interest payment is paid into the RRSP in a lump sum at the end of the term minus any quarterly payments made throughout the term.
- At the end of the term, we have the option to renew the mortgage for an additional term (as specified in the Mortgage Terms & Conditions Worksheet).
- If we do not renew the term, the original borrowed funds are returned to the RRSP, along with all the accumulated interest.
- No tax liability is incurred by investing in an RRSP mortgage. The investment is still held within the RRSP.
Serious inquiries only please.