Don’t worry, you don’t need to have any properties before working with financial or JV partners. All you need to have is credibility. The financial partner or JV partner simply needs to know, like, and trust you. It’s important to be trustworthy, hard working, reliable, and have strong communication skills.

Investors are always looking for people with credibility. They need people who they can trust with their money. They don’t care as much about experience. They simply want a strong match in terms of the working relationship and the level of trust. Be sure to prove that you’re going to work hard with their money, and that you’re an excellent communicator who can be relied upon.

Investing as a team opens the door to many possibilities that previously seemed out of reach for both you and your partner. When working together, the impossible becomes possible. When done right, it enables you and your partners to leverage your strengths to achieve your goals and create a win-win!

The answer is YES, absolutely. You can use your RRSP to invest in someone else’s investment property. However, you cannot use it to invest in your own property or a family member’s property. It has to be someone at an arm’s length. Someone far away from you. Your RRSP can be placed on a property as a second mortgage. The lender becomes your bank. They determine how much interest they want and how long they want to lend it out for.

The average time varies tremendously, but it’s typically in the range of 5-7 years. That is the timeframe of when properties start to perform, equity begins to grow, mortgage pay down occurs, etc.