The answer is absolutely YES. 🙂
Many Canadians know that you can use your RRSP’s toward a down payment on your first home. But very few know that RRSP’s can be used for property investing in Canada.
Canadians have over $250 billion dollars invested into their RRSP’s. Yet most of these RRSP investors are less than happy with the returns on their investment.
Are you in that category?
Savvy property investors (and top notch real estate and mortgage consultants like us) know that joint venturing with RRSP investors for buying Canadian investment properties is possible. With these partnerships, property investors get a virtually unlimited source of funding from the RRSP pool.
The result? RRSP investors get to partner with motivated, experienced property investors who (unlike their bank or financial planner) have a vested interest in their investment’s performance. The result is a major boost to both partners’ return on investment.
To learn more about more about using RRSP’s for investment properties, there is an event this Wednesday in Mississauga entitled “Property Financing: Knowing Your Options”. It’s about something called the Smith Manoeuvre.
Without getting into extreme detail, this is the basic premise of the manoeuvre:
Sounds interesting, but I highly recommend speaking to a great accountant before doing anything.