Romspen Investments (Company Overview) - Canadian Mortgage Lenders
Romspen is an investment mortgage company that has been in operation in Canada for over 45 years. In 2006, the company created a closed end investment fund that is secured by commercial first mortgages. Since this concept was introduced, the company has invested over a billion dollars in over 600 mortgages.
The company has offices in Yorkville, Toronto and the management team has over 10 years with the company. The main investment portfolio of the company has earned its investors an average of 10% net return on their investment for the past 10 years.
Romspen Mortgage Investment Fund
The main purpose of the Romspen Mortgage Investment fund is to provide investors with a way to earn a consistent monthly income. Using commercial mortgages as the main component of the portfolio, the investment fund offers a safe investment opportunity for its individuals. Over the past 10 years, this fund has created a net income of over 10% annually. The fund provides a source of investment with a low amount of risk. The interest earned by the portfolio is paid out to its investors on a monthly basis, offering a great source of income for individuals.
In order to invest in the Romspen Mortgage Investment fund there are a few criteria that must be met. The minimum amount of an individual’s investment must be at least $150,000 with incremental investments of $10,000. In order to qualify, the investor must meet the accredited investor rules and be eligible for RRSP, RRIF, DPSP, RESP savings plans.
Investments are made on the first of each month and distributions are sent out on the 15th of every month. The distributions that are received by the investors are considered interest income and will be taxed according to the laws relating to this type of income. Those with limited partnerships within the fund are not required to pay taxes.
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