How to Buy Real Estate in Canada with "No Money" Down!!

Hey Steemians,

If you were wondering, there is actually no way to buy Real Estate in Canada with "No Money" down, but if you are interested to find about good ideas to do creative financing, I have listed them below:

1. Use the bank of Mom, Dad, Friends, Relatives & Colleagues:
   I know of friends who have known each other for some time before they decided to crowd fund their deals through joint venture partnerships. One would act as a funding partner who would qualify for the mortgage and the other as equity partner fronting partial/full amount of capital.

2. Partner with an investor that will use their RRSP {Register Retirement Savings Plan} money:
   This is a great strategy for working with people who are nearing their retirement and want to put that money to work with above average returns that they cannot get in a savings account, as well as building residual income for themselves for retirement.

3. Partner with an Investor that will use built up equity in a Life Insurance Policy:
   Believe it or not, there are life insurance policies (whole & universal life insurance) that allow you to build equity within the policy. Your job is to find individuals who have done proper financial planning over the course of 5-10 years, with enough equity accrued, to leverage policy's equity in this type of join venture deals.

4. Attend Local Meetups & Conferences to find Investors to pitch them your deals. This could even include U.S. conferences:
   Meetups and Conferences are not just for meeting like minded folks and expanding your social circle, they're also great places to find your next joint venture partners!

5. Re-finance your principle residence to use the equity via traditional financing:
   Your principle residence can be a great vehicle to find more money when you need it, just make sure you do NOT tap out all of your equity to get yourself into a debt situation that you did not see coming!!

6. If you do not qualify for traditional re-financing of your mortgage (usually due to tighter mortgage conditions, interest rate changes, employment changes) find an equity partner:
   Bringing on an equity partner can provide cash/liquidity by selling them shares of your property(s) and bringing them on title to hold the respective percentage of equity that you sold them. Note, this method only makes sense if there is enough equity on your current property(s) to offer the investor equity!!!

As always, consult your lawyers, accountants and mortgage advisers on how to best structure these deals, with proper terms & conditions; as well as tax implications in mind!

Until next time...

Shervin.