Using My Self Directed RRSP Portfolio to Invest in Private Mortgages

Using My Self Directed RRSP Portfolio to Invest in Private Mortgages

 

Quite often real estate investors prefer to skip traditional mortgages and borrow money from private lenders. Skipping the government controlled and regulated lending options gives a borrower much more flexibility, they typically receive their funding much faster and there is little to no red tape to jump through. Perhaps best of all, the loan doesn’t affect their credit score.

Why would you want to invest in private mortgages?

Private mortgages are a great way to receive a high return on investment, typically much higher than what you’d receive in a standard mutual fund. They also provide significantly less risk than investing in the stock market – we’ve all read the headlines and hands shaking checked the status of our retirement account only to find that it has bottomed out. No matter what age you are this is a terrible experience, to lose all of that hard earned month. However as you approach retirement those pains are felt much more intensely. All the while you’re still paying the investment bankers their fees even though you’ve lost your money.

Private mortgages offer less risk because you’re secure in both the borrower and the value of the property. Typically the lending to value ratio is 50-70%. That means you only lend 50-70% of the value of the house.

Each monthly payment is like a fixed income payment. Each month you receive a check, or two or three depending on how many investments you make.

Finally, investing in private mortgages with your RRSP funds means when you withdraw the money upon retirement you’ll be paying significantly fewer taxes.

Think about what you’ll do with all that extra cash in your pocket. If you’re making monthly payments into your RRSP you can now keep that money for your monthly spending needs and use the income from your investments to fund your retirement.

Using your self directed RRSP portfolio to invest in private mortgages will be the best financial decision you ever make. Instead of assuming the risk, fees, and less than desirable return on investment that mutual funds, stocks and bonds offer you will receive a secure monthly fee at a much higher return on investment. All it takes is a little understanding about how to analyze opportunities and draft agreements which benefit your pocket book and help others achieve their real estate dreams.

 

For more information about how to use your self directed RRSP portfolio to invest in private mortgages visit http://www.rrspmortgageinvestor.com

Walter Monteiro.

Real Estate Sales Representative and Mortgage Agent.

Cambridge Ontario.

Using My Self Directed RRSP Portfolio to Invest in Private Mortgages

Driver is cited for using dummy in carpool lane

QUINCY, Mass. (AP) — A commuter heading into Boston had a real dummy along for the ride.

State Trooper John Carnell was working a paid detail in Quincy on Thursday morning when he saw a vehicle enter the carpool lane on Interstate 93 north with a suspicious-looking passenger.

Carnell pulled over the vehicle and found that indeed, the driver had propped up a jacket with a mannequin head on top in the passenger seat. The fake head even had a little mustache drawn on.

Vehicles using the lane must have at least two occupants.

The driver, whose name was not made public, has been issued a citation for operating on an excluded way.

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Don't get caught using eco-friendly light bulbs in Glenn Beck's office

Do anything to combat global warming in Glenn Beck’s office? You’re fired.

To prove his case against global warming, which Beck labels a “load of socialist, communist crap,” the right-wing talk-show host announced his war against energy-efficient light bulbs.

On air, he asked a staffer to write a memo that threatened to fire anyone caught using one. The YouTube video of the moment was picked up by Grist.

"I'm dead serious," Beck said on his radio program, as his employees titter nervously. "I fire the person that starts to purchase fluorescent light bulbs, unless that is the only light bulb for a very specific reason, and I want to be cc'd on what that reason is." How about to light a dark room? Is that reason enough?

But Beck’s vendetta against eco-friendly office supplies doesn’t end there. He told one worker not to purchase any more recyclable spoons, either.

“If anyone does anything in this company because of global warming, they’re fired,” he said. He’s OK with saving trees, though. Except for writing all those memos.

Perhaps Beck didn’t get the memo that a majority of Americans believe climate change is real.

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German town raises ire for scheme using asylum seekers as porters

BERLIN (Reuters) - A German town has halted a scheme offering asylum seekers 1.05 euros an hour to carry luggage at a station after rail operator Deutsche Bahn refused permission due to a public outcry and criticism that the project harked back to colonial times.

The southern German town of Schwaebisch Gmuend started the scheme on Monday for nine asylum seekers to help passengers get up a steep flight of metal steps erected at the station due to construction work.

The mayor originally said he hoped the program would help the integration of the town's 250 asylum seekers, but pictures of the refugees, mostly from African nations, in bright red T-shirts and straw hats unleashed an outcry.

Complaints about the hourly rate - about eight times below the level German politicians cite for a minimum wage - poured into the mayor's office and sparked a Facebook campaign.

"Having refugees as bag carriers is a shameless exploitation of the people's situation," said far-left Linke lawmaker Ulla Jelpke, who called it "colonial" behavior.

Deutsche Bahn said it had not been aware of the conditions and would pay its own employees their normal rate to do the job.

"The railway cannot support these conditions," the railway said in a statement.

A spokesman for Schwaebisch Gmuend told Reuters the conservative mayor was disappointed at Deutsche Bahn's decision and blamed misplaced political correctness.

"At a first glance, pictures of black people carrying white peoples' suitcases don't look good and conjure up images of neo-colonialism and racism, but this is not the case - the asylum seekers want to do this," said the spokesman.

He added that the 1.05 euros was not a wage as such, as asylum seekers are not allowed to be employed, but is the maximum amount it is possible to give them under the asylum seekers law.

The Bild newspaper quoted one asylum seeker from Gambia, Lamin G, as saying: "It was a good job, I could help people."

(Reporting by Madeline Chambers; Editing by Sonya Hepinstall)

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Pa. woman using purple toilets to fight cancer

EASTON, Pa. (AP) — A northeastern Pennsylvania woman is using purple toilets to raise money to fight cancer.

The Express-Times reports (http://bit.ly/15elgmY ) Rebecca Szabo-Silfies and her two young sons have been leaving the commodes on lawns around Upper Nazareth Township as part of the "Flush Out Cancer" effort. She chairs Saturday's American Cancer Society Relay for Life event at Nazareth Area High School.

She stakes out a home, leaves a toilet and then waits for the homeowner to find it. The person can then pay $10 to have it taken away, $20 to send it to a friend or $30 to send it to a friend and guarantee it never comes back.

The two purple toilets have made 18 stops so far, raising $400. Szabo-Silfies says she found the idea on the Internet.

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Information from: The (Easton, Pa.) Express-Times, http://www.lehighvalleylive.com

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What's in a name? U.S. starts using Myanmar as well as Burma

WASHINGTON (Reuters) - The Southeast Asian nation formerly known as Burma received further backing from the White House on Monday in its campaign to be called Myanmar.

Successive U.S. governments have refused to acknowledge the name change made in the late 1980s by the country's military rulers. The United States for years deliberately referred to the nation of 60 million people as Burma, so as not to give legitimacy to military governments.

But in a nod to political reforms made by President Thein Sein, the White House acknowledged it is now employing the name Myanmar more often than before.

"We have responded by expanding our engagement with the government, easing a number of sanctions, and as a courtesy in appropriate settings, more frequently using the name Myanmar," White House spokesman Jay Carney said.

Thein Sein met with U.S. President Barack Obama in the Oval Office on Monday in the first visit to the White House by a president of Myanmar, or Burma, in 47 years. Obama used the name Myanmar, not Burma, throughout his comments to reporters.

But his spokesman employed both names.

"Burma has undertaken a number of positive reforms, including releasing over 850 political prisoners, easing media restrictions, permitting freedom of speech, assembly and movement," Carney said.

In their meeting, Obama urged the president to take steps to halt violence against Muslims in his country and move ahead with economic and political reforms.

(Reporting by Jeff Mason; Editing by David Brunnstrom)

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Man accused of using fake penis for drug test

ST. CHARLES, Mo. (AP) — A man accused of using a prosthetic penis to try to pass a drug test is now facing charges in eastern Missouri.

Authorities allege that 34-year-old Sydney Levin was submitting a urine sample last week as part of his probation when an officer allegedly spotted him using a prosthetic known as a Whizzinator. The prosthetic is advertised as a discreet device that includes synthetic "medical grade urine."

Levin, of Lake St. Louis, was charged last week with possessing a forging instrument, KMOV-TV (http://bit.ly/11SXafU ) reported. He was arrested and released after posting $25,000 bond, and pleaded not guilty on Monday.

Levin was on probation for possession of a controlled substance and felony stealing in 2009. Authorities said Levin's probation required that he submit a urine sample as part of drug test.

Levin did not have a listed phone number. Court records show that he does not yet have an attorney.

In 2010, Gerald Willis of Los Angeles was sentenced to six months in federal prison for running a company that sold the Whizzinator to cheat on drug tests. Willis' company disbanded, but the Whizzinator is still sold online as a sex toy. A message seeking comment Thursday from the company selling the device was not returned.

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Information from: KMOV-TV, http://www.kmov.com

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