Canadian using RRSP (401K/IRA) money to JV an American houseflip?

[Nathan Platter]

People Involved

The friend (Alfonso) is a born-and-raised Canadian citizen and resides there 100% of the year. I'm an American (Minneapolis, Minnesota MN)

The Intended Deal

Alfonso and I want to JV (Joint venture) a houseflip together. He's got the money, I've got the time/experience/location.

I'll take out the loan (Private or Hard money PML HML) and Alfonso will provide the downpayment.

Alfonso wants to use RRSP (aka Registered Retirement Savings Plan) money. From what I gather, it's the Canadian version of the US 401K/IRA.

The Question

• Can Alfonso use these funds to invest in US Real Estate deals?
• Are there international complications I/we should address?
• Are there other factors we need to consider?