Fireside offers clients a way to invest in real estate on a scale that may not be available to them as an individual investor.
By combining the investment power of many individuals, Fireside MIC offers private lending to people who need mortgages and pays out the return to its investors.
Historically, clients who have invested in Fireside MIC have been most pleased with both their rates of return and our customer service.
As we move forward, Fireside is committed to continue providing the same level of stability and security in our mortgage-based investments for our clients. We strive to ensure that we consistently achieve the best outcomes for our loyal investors.
Types of registered funds
Fireside is a qualified self-directed investment in Canada, which means you can hold funds in your:
- TFSA
- RRIF
- RRSP
- LIRA
- RESP
- LRIF
- DPSP
- RDSP
This offers a vehicle for tax-deferred retirement savings and efficient growth. Please consult your own professional advisors to obtain advice on the income tax consequences that apply to you in connection with an investment in Fireside.
WHY INVEST
EASE & CONVENIENCE
Fireside offers a hassle-free investment. There is no maintenance to consider, no tenants to deal with, and no surprises. It’s a growth-focused investment vehicle that gives you the benefits of investing in real estate without the stress.
ACCOUNTABILITY
Fireside MIC is a qualified self-directed investment under the Income Tax Act (Canada).
Independent Auditing
Every year Fireside’s financial statements are audited by an independent accounting firm, currently Chaggares and Bonhomme and Pinnacle CPA’s LLP.
Thorough Research
Liahona Capital Inc., an exempt market dealer registered Ontario and British Columbia, assists Fireside MIC in marketing, arranging and facilitating its offerings in Ontario and British Columbia, ensuring that each investor properly qualifies under available prospectus exemptions.
EXCELLENT SERVICE & TRANSPARENCY
We don’t like surprises and you shouldn’t either. Our mission is transparent and open communication with our clients. Whether it’s with a member of our team or one of our reports, you should always be informed.
- Easy dividend cash options for monthly cash flow
- Quarterly reports in January, April, July, and October
- Straightforward information on reinvested funds
GROWTH & YIELDS
With target yields of 4 – 8% and the option to reinvest in Fireside MIC by participating in its dividend reinvestment plan we put your growth first.
SECURED BY REAL ESTATE
Our mortgage portfolio will consist primarily of residential financing secured by first, second and third mortgages.
PORTFOLIO
BREAKDOWN
as at June 1, 2022
|
Total Assets: |
$22,250,000.00 |
|
Total number of Loans: |
126 |
|
Average Loan-to-Value (LTV): |
66.31% |
|
Average Loan Size: |
$168,861 |
Investment
Information
|
Minimum Investment: |
$5,000.00 |
|
Price per Preferred Share: |
$1.00 |
|
Target Yields: |
4.0 - 8.0% |
|
Redemption Period: |
2-year hold, quarterly liquidity thereafter |
|
Exemptions: |
Accredited investor, offering memorandum and other applicable prospectus exemptions available under NI 45-106 |
investment strategy
Our objective is to invest in residential mortgages from borrowers who cannot get the required financial approvals from the larger banking institutions, as well as other mortgage related opportunities.
We manage risk through conservative underwriting techniques with a general LTV average of 66.31%. Fireside manages the sourcing of mortgage opportunities, analysis, and underwriting of all mortgages, generating passive income returns for our investors.
These returns allow our investors the option of accepting monthly cash dividends or the option of reinvesting their monthly dividend entitlements, compounding returns over time.
Additional Questions?