Updated over 9 years ago on . Most recent reply
Locked in RRSP in Ontario, Canada
I have been interested in real estate investing, and as I am learning more, I am looking for strategies to use my retirement savings from a previous job as a down payment / investment funds for my first property (through conventional mortgage, BRRRR)
From information I have been told, I can use a self directed LIRA as a funding platform, but I cannot fund my 'own' deals, I would have to invest arms length (not to myself, or immediate family members).
Would anyone know of a way to be able to use these funds myself? potentially setting up a LLC and investing in it? Or finding someone else in a similar situation, and having reciprocal investments?
Andy
Most Popular Reply
It is possible for registered accounts (RSP, TFSA, LIRA, etc) to hold arm's-length mortgages. There are only half-a-dozen trusties in the country who support arm's-length mortgages in a registered account (search the forums and you will find a few {more} in-depth discussions).
It is also possible to hold a non-arm's length mortgage on your personal residence (though this approach is not really advantageous ... especially at the moment).