Are you earning less than 7% on your RRSP …. or RESP, RRIF, LIF, LRIF, and LIRA?
Did you know you can be just like the bank – and get a higher rate?
You lend an investor, your money at a set rate of return. Your money is secured on safe, secure well selected Real Estate.
Most investors pay between 7 and 15% return on your money – depending on the loan to value.
Most normally pay a nominally 3.5% per year into your self directed RRSP account, and then pay a balloon payment at the end of the term.
It’s super easy to set up. You just have to sign the forms. All the forms can be found at http://olympiatrust.com/plans/index.php. Normally the borrower will meet with you with the completed forms (or fax or email). It will take you 15 minutes to review the forms, sign, and then … start earning 7-10% on your RRSPs!
Here’s the Process:
- Investor/Borrower has Client (you) Register for an Olympia Trust Account, using the PDF form – Registered Plan Application.
- Investor has Client Direct Olympia to Transfer funds from existing RRSP service provider using the PDF form – Transfer Authorization.
- Investor/Borrower draws up the mortgage loan details with selected property using the PDF form – Mortgage Direction Undertaking.
- Investor/Borrower completes the Solicitor’s Certificate of Disclosure & Undertaking regarding Arms-length mortgages as investments in self-directed Registered Plans, using the PDF form Solicitors Certificate.
With the forms complete:
- Investor/Borrower gets the first two forms to account representative at Olympia Trust. There are currently three account representatives in Calgary.
- Investor/Borrower gets the second two forms to chosen lawyer.
Investor/Borrower work is done. Olympia Trust gets to work … and lawyer gets to work.
Investor/Borrower follows up with lawyer and Olympia Trust to ensure everything is okay. If things go smoothly, investor/borrower can expect the cheque within 3 weeks of the client, signing the forms.