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Mortgage Investment Corporation in Ontario

BEDROCK MORTGAGE INVESTMENT CORPORATION is a well-established mortgage investment corporation (MIC) in Ontario. Like other MICs, it operates by raising funds from investors and using those funds to provide mortgages to borrowers. Here are some key aspects of BEDROCK MORTGAGE INVESTMENT CORPORATION:

Investment Opportunities: BEDROCK MORTGAGE INVESTMENT CORPORATION offers investors the opportunity to participate in the mortgage market without directly owning physical properties. This allows for diversification and reduced exposure to individual property risks. Our minimum investment amount is $75,000.00.
Mortgage Portfolio: BEDROCK MORTGAGE INVESTMENT CORPORATION maintains a carefully curated portfolio of mortgages. These mortgages can include residential mortgages, commercial mortgages, and construction loans. Presently, all our mortgages are only on residential properties. Our portfolio is currently 89.7% first mortgages and the remainder are second mortgages. Our average loan-to-value based on the appraisal done at the time of funding is 51% as of September 30, 2024.

Income Distribution: One of the key attractions of investing in BEDROCK MORTGAGE INVESTMENT CORPORATION is its income distribution policy. MICs like BEDROCK MORTGAGE INVESTMENT CORPORATION are required to distribute a significant portion of their income to shareholders, which can result in consistent dividend payments to investors.
Risk Management: BEDROCK MORTGAGE INVESTMENT CORPORATION employs risk management strategies to minimize losses and protect investors’ capital. This may include careful underwriting of mortgage applications and maintaining a diverse portfolio.
Regulatory Compliance: MICs in Ontario are subject to regulations and oversight by the Ontario Securities Commission (OSC) and the Financial Services Regulatory Authority of Ontario (FSRA). BEDROCK MORTGAGE INVESTMENT CORPORATION complies with all relevant regulations to ensure investor protection.

"I have known Gary Meger for over 10 years, and have worked with Bedrock MIC for several years. I only use MICs that are reliable, trustworthy and offer reasonable terms and a reliable renewable strategy. It is very important for my clients to know the costs upfront with no surprises. Relationships and Trust are everything in the mortgage business. Gary and the Bedrock Team are very quick at giving us an answer on financing and issues commitments usually within 24 hours." Sincerely,

Phil Weir

Mortgage Broker

"Our Sudbury office loves using Bedrock. Very fast, efficient and they accommodate quick closings. This is a low doc Mic with very fair rates and fees. I highly recommend them."

Todd Payzant

Mortgage Broker

"Dealing with Bedrock Investment Corporation is a pleasure, they are fast efficient and always looking at ways to put deals together. They look outside the lending box and work with clients to put them in a better situation. I would recommend to anyone that has not tried them to reach out to Gary and discuss your deal with him."

Peter House

Mortgage Broker

"I use Bedrock because their values as a company and as individuals align with mine. They are fair with their pricing, flexible with the term structure, prompt and professional. Bedrock's management is well educated, committed to the mortgage industry as well as improving the lives of my clients. Generally, when I have a client that requires lending from private funds, or a MIC, Bedrock is my default lender when I feel the application is a good match for them."

Cory Kline

Mortgage Broker

"I've been in the mortgage business for almost 20 years now and have dealt with a lot of different private lending companies and I've been dealing with Bedrock Mortgages for years now. Gary Meger, Don and Team have been amazing to deal with on every file. They provide exceptional service, quick turn arounds and are extremely pleasant to deal with. I would highly recommend all brokers give Bedrock Mortgages a try on your next private mortgage file. You will not regret the experience and neither will your clients."

Andre L'Ecuyer

Mortgage Broker

"We have had the pleasure of working with Bedrock Mortgage Investment Corp and Gary Meger and Team for many years, and they have consistently been our go-to private lender. Their responsiveness and efficiency in assessing deals are unmatched; they can quickly determine whether they have an appetite for a file, allowing us to move forward with confidence. The pricing offered by Bedrock Mortgage Investment Corp is highly competitive, and they are always fair to clients, ensuring that everyone involved feels respected and understood. Gary Meger stands out as a wealth of knowledge in the industry, providing insightful advice and guidance that adds tremendous value to our business and clients. Dealing with Bedrock Mortgage Investment Corp is always a pleasure, and I highly recommend them to anyone in need of a reliable and client-focused private lender. Their professionalism, expertise, and dedication make them an invaluable partner."

Justin Chausse

Mortgage Broker

"Working with Bedrock MIC has significantly helped my clients achieve their mortgage goals. The level of service and knowledge they bring to each file has helped me help others. Knowing that your lender partner has the knowledge to not only know how to help and restructure a file but be reasonable and timely only helps our funding of files and retaining clients. I appreciate the communication Bedrock MIC offers on response times, renewals and redirecting clients continuously to the broker channel. Their lending area is so vast, and their knowledge of geographical areas has helped me fund files seamlessly. I look forward to growing my business with them more in the future."

Megan J. Roper

The Mortgage Arranger
C/O DCL Edge Financial

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BEDROCK MORTGAGE INVESTMENT CORPORATION

Purpose and Function:

BEDROCK MORTGAGE INVESTMENT CORPORATION pools funds from various investors to provide financing for residential and commercial real estate projects. This financing is typically in the form of mortgages.

Investment Focus:

The corporation focuses on generating income for its investors through interest payments received from these mortgage loans. It targets properties and borrowers that may not qualify for traditional bank financing, often offering higher interest rates.

Income Distribution:

The income generated from these mortgage investments is distributed to investors, usually on a quarterly basis, providing a steady stream of income. The returns are distributed through direct deposits.

Risk and Returns:

While there are risks involved, such as defaults or changes in the real estate market, BEDROCK MORTGAGE INVESTMENT CORPORATION aims to offer attractive returns to investors. For 2024, the target rate was 7%, with recent quarterly returns exceeding this target.

Regulatory Compliance:

As an MIC in Canada, BEDROCK MORTGAGE INVESTMENT CORPORATION is regulated under the Income Tax Act (Canada). It must adhere to specific rules, including distributing most of its income to shareholders and investing primarily in mortgages. By investing in BEDROCK MORTGAGE INVESTMENT CORPORATION, investors gain exposure to the real estate market and receive regular income distributions, all while benefiting from the corporation’s expertise in mortgage lending and property investment.

Risk and Returns:

While there are risks involved, such as defaults or changes in the real estate market, BEDROCK MORTGAGE INVESTMENT CORPORATION aims to offer attractive returns to investors. For 2024, the target rate was 7.5%, with recent quarterly returns exceeding this target.