In this episode, Marcel discusses private mortgages and how to lend and borrow with private loans using registered accounts.
– Private Less regulated from the standpoint of what they require from the borrower in order to loan their money.
– Experience, equity, credit worthiness: primary things a private mortgage lender is looking for.
– Unlimited amounts of cash….fast….but there are downsides.
– A typical bank won’t touch a property in a certain condition. Private lenders can.
– Private lenders take a different type of risk than a bank or traditional lender.
– How to use your registered accounts (rrsp, tfsa) to invest in mortgages. If you have $25K or more, you could very easily become a lender.
– Private lenders are creating there own terms…and they are flexible!
– Good flippers know private money is a secret weapon.
– Arms length vs. non arms length lending.
– What due diligence should you do when lending, or borrowing, money.
– How to avoid ‘loan to own’ lenders.
Marcel Greaux is an active real estate investor, mortgage agent and the founder of the Toronto Real Estate Club (TREC).
As a trusted source for real estate advisory, Marcel employs a consultative approach in working with his client-partners to structure and obtain real estate financing in conjunction with their portfolio goals and objectives.
As a private lending specialist, Marcel provides his client-partners the education, advisory and deal flow opportunities for private mortgage offerings based on risk tolerance.
Marcel is frequently called upon by Canadian Real Estate Wealth Magazine, Rogers TV, MACC TV and various GTA-based real estate clubs as a guest speaker.