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Real Estate Investments – Save a self-directed RRSP (as 2nd mortgages) in Canada – process and effects ..?

Hello everyone, my location is Ontario, Canada. I'm thinking of recording a self-directed RRSP second mortgage on investment property (triplex) that currently owns. I wanted to ask: – Should I ask the mortgage broker (who is organizing the first mortgage) if I can do I can do it in advance or even after purchase and Closing date is beautiful? – Should I get a lawyer to save the self-directed RRSP second mortgage or not necessarily? – Does it hurt me somehow, because if I burn a 2nd mortgage I will show more of the debt on my mortgage application coming? In other words, the registration of a mortgage Self Directed RRSP/2nd negatively affect our credit? and finally: – What are the main investors aim to do – to claim the interest as a tax deductible expense? That is? I would appreciate any advice on the subject. Thanks & Regards.

It's better than seeing a very, very good book before doing that. The provisions of the CRA are very narrow and the consequences are serious.

RRSP Real Estate Investing

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