Hello, I'm not happy with my investment portfolio and have decided to liquidate my assets in order to use the funds towards the purchase of an investment property (rental) through a non-arms length mortgage. Can you provide some details on this product that is being offered?
February 11, 2013 01:53:30 PM
Home Ownership, Investing and Planning for Retirement, RRSP
In reply to Mike, Stouffville
Welcome to TD Helps! Thanks for sharing your question with us.
If you’re referring to a Non-Arm’s Length Self Directed RSP Mortgage, TD offers this product through TD Direct Investing, otherwise known as TD Waterhouse. For more information regarding this, including how it works and the factors you should consider when deciding whether to set one up, check out: http://advisors.tdwaterhouse.ca/public/projectfiles/9142cfed-ff32-46f6-a575-efccccf6cc6a.pdf.
To apply for this at TD, you'll have to visit a TD branch to complete a credit application. This process will include a review of your current income, credit history, liabilities and overall financial situation.
If you have any other questions regarding this product, you can contact the TD Waterhouse Self Directed Mortgage department directly by calling them at 1-800-267-5759. They’re open Monday-Friday from 8:30am-5pm. Or, you can email them at firstname.lastname@example.org.
Lastly, please note that there are many risks of buying a rental property and I encourage you to have a thorough conversation with your realtor to learn about the real estate rental market in the area you’re interested in. This can help you weigh the pros/cons of real estate investing.
I hope this helps. If you have any other questions for us, we're here if you need. Take care and best of luck.
February 11, 2013 02:53:43 PM