RRSP investment in a Mortgage Investment Corporation (MIC) | Page 3 | RRSPs and RRIFs | Discussion forum

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RRSP investment in a Mortgage Investment Corporation (MIC)
November 29, 2020
8:17 pm
maxb
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Is it ok if I mention the MIC company i use in Toronto?

Am I ok disclosing, but just not sure of the rules on these threads ? If I hear no objections, I will post in a week.

Remember, to ask all the questions above of any person that you are placing money with !! All are valid and IMPORTANT!
I think people get excited by the returns, and forget to ask.

November 29, 2020
10:31 pm
maxb
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Took a while to find that Carevest failure.

1. There was no investigation by the client to see how the MIC was generating its returns. 2. Looks like the MIC was doing construction/corporate lending.

In the article, some other MIC failures were similar, plus 2nd mortgages, vacant property, and outright ponzi fraud.

MORAL: FIGURE OUT HOW YOUR MIC MAKES MONEY. IF YOU DONT UNDERSTAND, DONT INVEST !!!

November 30, 2020
2:06 pm
maxb
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@dwdrajesh please check your inbox...

November 30, 2020
3:20 pm
dwdrajesh
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maxb said
@dwdrajesh please check your inbox...  

Thanks.

December 3, 2020
6:35 pm
maxb
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Check out the latest composition of mortgages that HOSPER currently has....

Hosper_Mic_2020_11.jpg

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