Author Topic: Investing in private first mortgages? In Canada  (Read 341 times)

Petergalo

  • 5 O'Clock Shadow
  • *
  • Posts: 2
Investing in private first mortgages? In Canada
« on: July 29, 2019, 01:59:05 PM »
Hello,

I live in Canada. I was wondering if any of you have invested some of your money in private first mortgages. From what I gather you make 8-11 percent on a first mortgage and worst case scenario you get the house if they donít pay and then have to sell. Some of my very wealthy friends use this as an investment vehicle but wanted to know everyoneís thoughts?!

Ps this is my first post! Canít wait to be Financially Independent!

Peter

A Fella from Stella

  • Pencil Stache
  • ****
  • Posts: 524
Re: Investing in private first mortgages? In Canada
« Reply #1 on: July 30, 2019, 01:28:01 PM »
I have read all of your posts, and am your biggest fan!

While not having done this, it sounds like if you invested in my mortgage, you'd have done well for yourself with payments on the 1st of every month.

How much are you willing to invest? Do you just have to invest the down payment, or are you the actual mortgage lender?