Canada TFSA lending

[Matt Geerts]

I want to start pitching the idea to some family and friends to lend money to me at x%, secured by properties that I am buying under value and instantly investing money in to improve.

Trying to search the internet for TFSA mortgages brings up a thousand blogs about whether you should invest in your TFSA or pay your mortgage, so I can't find any information for what I'm after.

The question is, what are the mechanics of a lender lending this money to me? Do they need a financial institution to register the TFSA? Are they bound by the same mortgage regulations as if it were an RRSP (forced CMHC on non-arms-length and max 80%LTV on arms length)?

I expect that I'll be paying one of our lawyers to draft the mortgage doc according to our terms, establish the lein, etc.

Can someone either feed me a document explaining all of this, or write it down in step-by-step instructions for who needs to get what done by whom? 

Keywords to set off all the Canuck alerts: Canada Ontario Toronto Vancouver RRSP