Sean Blix of Rainmaker Investment Advisory and Ches Hagen of AP Capital MIC have a candid conversation about AP Capital MIC and why it is a good "sleep at night" investment. Founder and CEO, Ches Hagen, speaks to their risk averse management which ensures they maintain their commitment to protect investors capital and deliver stable returns to investors, currently targeted at ~6% per annum, paid monthly.
AP Capital Mortgage Investment Corporation (MIC) started in 2007 as a niche-market mortgage lender in Western Canada. The firm only advances short term mortgages, of 12 months or less, to owners of primarily single detached homes in urban markets of BC and Alberta. Borrowers are home owners or home purchasers who require short term funds and often do not fit with conventional bank underwriting. Equity in each borrower’s home is what protects the fund’s capital; for each mortgage, the target loan to value is 70%, leaving 30% equity to protect AP Capital in the event of borrower default. Approximately 1,000 mortgages have been advanced since inception.
