RRSP Investing Secrets. Getting Your RRSP/TFSA into a Cash Position To Invest In Real Estate.

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Are you looking to get your RRSP or TFSA's into a cash position so you can invest them in real estate without having to pay tax on those funds?
Canadian real estate investor Darren Voros sits down with Paul Hecht for a full overview of how you can use your RRSP's, TFSA's and any other registered funds to invest in real estate. Paul walks through the full spectrum of options that you have available to you including the first time home buyers plan, private lending within your RRSP and how we can structure our registered funds to be able to invest in projects in a cash position and take advantage of equity ownership.
Paul and Darren also discuss the pitfalls that most investors fall into while trying to move their registered funds into a self-directed position, which lending institutions will allow us to do this, the timeline it should take to complete the transfer and so much more.
To find out more about Paul's project or to get in touch with him, feel free to reach out at paul@paulhecht.com
****DISCLAIMER:
With any and all investing you should always obtain independent legal, taxation and financial advice from a licensed professional before investing any of your own money.
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Darren Voros
Darren’s diverse skillset has taken him to many stages around the world. He has been featured as an on-air renovation expert on “The Goods” (CBC) and “CityLine” (CityTV). Darren was also the behind the scenes contractor on “Save My Reno” (HGTV) and “Game of Homes (W Network).
Darren is an accomplished real estate investor, trainer and coach. He controls a portfolio of properties worth just over $10,000,000 and has travelled across North America educating, inspiring and motivating audiences on the subject of real estate investing, financial independence and financial literacy. Darren’s willingness to give back prompted him to launch his RU-vid channel in 2020 in order to have a wider reach in educating investors.

Опубликовано:

3 окт 2024

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Комментарии : 64

@BryanMcCann-ks9jh 10 месяцев назад

Getting a head start by beginning early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.

@Calvertmarian 10 месяцев назад

I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimise risks and maximize profits, generating around $3 million in three years with my advisor, Jenny Pamogas Canaya.

@Calvertmarian 10 месяцев назад

With the help of google you can book an appointment. She has a wealth of experience in the financial market gained over several years.

@MigLiberte 3 года назад

This has been some of the finest Canadian financial value I've ever heard. Thank you.

@DarrenVoros 3 года назад

Wow, thank you Miguel!

@MigLiberte 3 года назад

@@DarrenVoros thank you Darren!

@michelefisher5171 3 года назад

Wow! That’s amazing! Thank you Paul! I’m blown away! I’m going to watch as many times until I can speak it. Amazing.

@DarrenVoros 3 года назад

Fantastic, glad you enjoyed the video Michele!

@rickymagicanada 3 года назад

That's really amazing, I need to watch again. thanks for the information

@DarrenVoros 3 года назад

Glad it was helpful Ricardo!

@lindachalmers4949 3 года назад

Another great session, thanks Darren and Paul!

@DarrenVoros 3 года назад

Glad you enjoyed it, thank you Linda!

@mariamurray7675 3 года назад

I am preparing to go down this road - getting my ducks in a row, so to speak. I recently heard Paul speak about this but had some lingering questions and this has answered them all. Hearing it again with new examples was fantastic. Thank you both!

@DarrenVoros 3 года назад

Wonderful! Best of luck to you Maria!

@xcskiguy1739 3 года назад

Very clear explanation. Thank you.

@DarrenVoros 3 года назад

Glad it was helpful, thanks Roy!

@myrosamaria9517 2 года назад

Thank you for the video! Subscribed! 😊

@nathalieisaac6187 3 года назад

I love this video! Very informative👏🏽

@cscastro 3 года назад

Wow what a gem. Thanks for the info. What if the RRSPs have matured and are just sitting around, is this still possible? Would a credit union or mortgage broker be best to facilitate an arm's length loan? Thanks again!!

@Mr.Man- 3 года назад

From what I’m learning you’ll need to move the secured RRSP from the guided bank, to a self direct secured company. I’m not certain as to the next steps, but I imagine it’ll be a learning process.

@Juromtim 2 года назад

Love your discussion.

@rashpalbains6622 3 года назад

Thank you so much, great information.

@DarrenVoros 3 года назад

No problem!

@chrismcfarlane7624 3 года назад

Amazing stuff!

@DarrenVoros 3 года назад

Glad you enjoyed it Chris!

@dancarrol4558 2 года назад

Great info. I learned a lot.

@johnquirke6039 3 года назад

I got lost on the interest earned. I thought I heard that the interest earned was outside the RRSP (that leant the money). Specifically, that the interest earned was available to the lender in its entirety. Is that correct? If so, that money would be added to, for example, T4 earnings, yes??

@Anniducati 3 года назад

It was a struggle to desert my mutual fund advisor of over 20 years. I heard all the horror stories, and doubted myself. But I've been doing private mortgages with my registered funds for a couple of years now, and I've never looked back.

@backgetters 3 года назад

How? Im getting more intrested in private lending. I have some capital, but do not know where to start.

@Anniducati 3 года назад

@@backgetters Essentially you have to transfer the amount of registered funds you wish to invest to a "self-directed" trust account like Olympia Trust. This can be easy or difficult, depending on where you currently hold them. Also because it's a "transfer", there are no taxes involved. Talking to a good mortgage broker might help, as he or she may have access to private lending opportunities that are safe and legal. There are pros and cons to private lending, especially to strangers, so always consult an expert and know the risks.

@backgetters 3 года назад

@@Anniducati Thanks Anne

@ffigueroafabre 2 года назад

I guess the only cost of transferring from one institution to another is the penalty the bank we moving the account from will charge?

@lylew7407 3 года назад

The profit gained from the spread, which is outside of the RRSP, this profit would get taxed at whatever tax bracket you are in? Or would this not get taxed since it came from an RRSP ( im guessing no)??

@bewisegetwaiz8819 3 года назад

No tax, as the profit will also go into the RRSP.

@brarautorepairs Год назад

Account transfers should not take 8 months. Generally you send an account transfer and pend the file for 20 days. Once the transfer is initiated, it can still take longer than 4 weeks to have it completed.

@johnobobohno 2 года назад

I'm at the point where I'm in the middle of a career change, and I need to choose where to manage my RRSP. I'm a novice real estate investor, just learning about private lending for bigger deals. Which company would you recommend for a truly self-managed RRSP?

@claudiamarques254 Год назад

Olimpia trust

@umartariq7092 Год назад

So what do you both use instead of RRSPs?

@robandgen5778 3 года назад

Can you provide a list of institutions within Canada that will administer non arms length mortgage in RRSP please?

@DarrenVoros 3 года назад

Olympia Trust, Computershare and Canadian Western Bank are the ones I know of.

@Anniducati 3 года назад

Future webinar? Setting up a syndicated mortgage using registered funds. Pros and cons.

@5Saucer 3 года назад

I might have missed this part...but does the money in the RRSP have to be cash? AKA you need to sell all of your mutual funds to then lend?

@LeanOnMeFencePostRepair 2 года назад

if you have a TFSA with 6 figures in it, are you able to leverage it as collateral to get funds to buy real estate? Im curious to see if I can get a mortgage or loan without selling off the stocks/ETFs in my portfolio but using it as collateral instead

@DarrenVoros Год назад

I'll answer this on the Ask Me Anything today (Dec 23rd). Tune in at 12pm EST.

@dazisgud 3 года назад

Is there no fees for whomever is setting up the rrsp "loan"? He said you could loan 8k , does that mean the fees for arranging the 8k loan would not offset the profits?

@backgetters 3 года назад

How do i get into private lending? How much would i need to start?

@kevinwelsh7490 3 года назад

If I lend out my RRSP funds as a mortgagor at say for example 4% to a developer, and the project DEFAULTS on repayment, either on interest payment or principal amount too, how is that accounted for in my RRSP?

@brarautorepairs Год назад

It's like any investment loss, you're underwater on that specific investment. What you can try to sue the developer to get back the funds. In most cases, it's not worth the hassle for the return you'll get. If you hold an equity portfolio and pay 2 percent MER, you'll still have an 8 percent average return after fees. Let's suppose you want some stability, you could choose a High Yield Fixed Income fund which actually would be less risky than a private mortgage on one property since the risk is spread out over many issuers. If you're keen on taking on no risk, you could hold a GIC at 5 percent

@gailmartindale 3 года назад

How much is the interest and how long would the money be "loaned out" for? I am interested in making my RRSP fund work harder for me, but I have no idea where to begin. My investment advisor has always spoken negatively about investing in real estate, but I totally understand why he would be against it.

@mmaher1011 2 года назад

I'm not a big fan of any advisor that speaks negatively about any other kinds of investments just because they don't sell them. I call them Financial Hacks!

@maryave85 3 года назад

can you convert rrsp into rrif and then invest it in a regular stocks and get tax deductible?

@ashleypurvis3835 3 года назад

How does one do this in a passive perspective?

@michelefisher5171 3 года назад

What is MIX?

@phamtruax 3 года назад

any trust companie recommendations? Olympia Trust. anyone else?

@DarrenVoros 3 года назад

Community Trust is another one.

@phamtruax 3 года назад

@@DarrenVoros Thank you Darren!

@claudiamarques254 Год назад

Can you re-explain the syndication process again? Say I lend $200k in RRSP to Maria, she lands my own RRSP to Paul, when Paul lends it back to me. Is that correct?

@normjones6916 3 года назад

Can this be done with a locked in RRSP ?

@claudiamarques254 Год назад

Yes it can.

@amandaschultz9842 3 года назад

Would love to connect on a call

@DarrenVoros 3 года назад

Thanks for reaching out via FB.

@ritahogikyan8560 Год назад

I wish there was a way I could educate my husband so that he can make more money from his RRSP money

@DarrenVoros Год назад

You could enrol in my Lender Academy. It's a course dedicated to teaching these kinds of strategies. www.darrenvoros.com/academy-courses/lender-academy