It was an honour for Radical Housing Corp, to be the second guest on Chat with Chidi, hosted by Chidi Nwene, a community connector and social responsibility advocate in the city of Guelph. Chidi interviewed Andrew Somerville, our President about affordable housing both from a Realtor® perspective and an affordable housing advocate perspective.
The conversation addressed the highl level reasons why affordable housing is an issue and looked at one possible solution that Radical Housing Corp is exploring. That being the single point of contact for the basement apartment or Accessory Dwelling Unit (back yard home) development.
We will build your apartment for free…
We will build your apartment for free is the head line used to pique people’s interest. Although the concept isn’t necessarily free of cost, it is free of worry and stress. When it comes to cost, there is no upfront fee, but the renovation and management can be paid off over time by sharing in the rent. There is also the possibility of using other people’s RRSP’s to fund the basement through a self directed second mortgage.
Not many people are aware that your can setup a self directed RRSP and use it to do a second mortgage on a home that belongs to someone else that you chose.
If you are considering using your investments to do some good. let us know and we can connect you with homeowners who could use the help. We are all in this together.
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