What is MIC?
A Mortgage Investment Corporation (MIC) allows Investors to pool their money together to lend on real estate. MIC allows regular people to invest in real estate and lend on mortgages like the banks.
Investors buy shares of the company which allows them to own the company and become partners.
How does a MIC work?
Investors to pool their money together to lend on real estate.
Benefits of MIC investments
invest majority of registered plan funds such as RRSP’s, TFSA etc.
MIC vs. Private Lending
from a qualified Appraiser, analyze the ability of borrower to pay back