RE Investing in US as a Canadian

Toronto, Ontario
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RE Investing in US as a Canadian

Chris Skeates
New to Real Estate · Toronto, ON · Member since 2024 · 3 posts · 2 votes

Hey Everyone!

My name is Chris, I'm just getting started on real estate investing... like from square 1 sort of starting out. Starting to wrangle as much cash as I can to do my first small deal and get some positive cash flow to exit the rat race! My wife and I own a fitness studio just outside of Toronto, ON. We're currently working in the business quite a bit right now, but as it grows we'll be hiring to have it fully staffed with passive income to cover our current expense plus more. 

My initial question, does anyone know what's involved to invest in a US market as Canadians? We'd be looking to start small as mentioned with a 2/1 or 3/2 rental but not sure if it's worth looking in the states just yet or with future deals.


Thanks BP team!

Chris

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Stephanie Bell
Investor · Toronto, Canada · Member since 2023 · 13 posts · 9 votes
2y

Hi Chris, I'm a Torontonian who got started recently with a duplex in Buffalo. Happy to chat if you'd like.

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  • Charles Carillo
    Rental Property Investor · North Palm Beach, FL · Member since 2018 · 2k+ posts · 1k+ votes
    2y

    @Chris Skeates

    We have partners who are foreign investors. DM me, and I will send you contacts for attorneys, lenders, and accountants they have previously used. It is important that you hire professionals who have experience working with foreign investors.

    2Reply
  • Jonathan GreeneBusiness Member
    Real Estate Consultant · Madison, NJ · Member since 2016 · 6k+ posts · 7k+ votes
    2y

    For the Canada to US issue, reach out to Daniel Foch who co-hosts the Canadian Real Estate Investor show with Nick Hill.

    But this statement - "first small deal and get some positive cash flow" - is troubling because you may get enticed into a cash flow market with this thinking. But right now, a cash flow market as a small deal will likely be in a C to D area with capital expenditures and more volatile renters. Cash flow is pretty hard to find with such limited inventory. It's possible, but I would be careful not having invested in the states before.

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  • Chris Skeates
    OP
    New to Real Estate · Toronto, ON · Member since 2024 · 3 posts · 2 votes
    2y

    Thanks Charles and Jonathan!!

    0Reply
  • Stephanie Bell
    Investor · Toronto, Canada · Member since 2023 · 13 posts · 9 votes
    2y

    Hi Chris, I'm a Torontonian who got started recently with a duplex in Buffalo. Happy to chat if you'd like.

    2Reply
  • Matthew Irish-JonesBusiness Member
    Real Estate Agent · Buffalo, NY · Member since 2017 · 2k+ posts · 2k+ votes
    2y
    Quote from @Chris Skeates:

    Hey Everyone!

    My name is Chris, I'm just getting started on real estate investing... like from square 1 sort of starting out. Starting to wrangle as much cash as I can to do my first small deal and get some positive cash flow to exit the rat race! My wife and I own a fitness studio just outside of Toronto, ON. We're currently working in the business quite a bit right now, but as it grows we'll be hiring to have it fully staffed with passive income to cover our current expense plus more. 

    My initial question, does anyone know what's involved to invest in a US market as Canadians? We'd be looking to start small as mentioned with a 2/1 or 3/2 rental but not sure if it's worth looking in the states just yet or with future deals.


    Thanks BP team!

    Chris


     Hi Chris, we work with a lot of Canadian investors, specifically from Toronto.  Figuring out how you are going to pay for the property is step 1.  That can be cash or financed.  If you go financed there are a few banks that have both Canadian and US branches.  After that you need established goals.  Are you a cash flow investor or appreciation investor?

    I normally suggest being right smack dab in the middle with a low risk B class asset.   Knowing the risk profile of the area and the asset vs returns is pretty much the most important equation when it comes to investing .

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  • Chris Skeates
    OP
    New to Real Estate · Toronto, ON · Member since 2024 · 3 posts · 2 votes
    2y

    Thanks @Matthew Irish-Jones!! This is definitely helpful! I'll shoot you a DM!

    1Reply
  • Linda LabbePro Member
    Investor · North Bay, Ontario · Member since 2015 · 709 posts · 262 votes
    2y

    HI Chris we to are Canadian and we do invest in the US. We also work with a lot of other  Canadian investors who do the same thing. More then willing to share what we do if you want to chat

    0Reply
  • Jagjit Singh
    Investor · Toronto, ON · Member since 2024 · 5 posts · 2 votes
    2y
    Quote from @Stephanie Bell:

    Hi Chris, I'm a Torontonian who got started recently with a duplex in Buffalo. Happy to chat if you'd like.


     Hey Stephanie,

    Fellow Torontonian here, I'm looking into the New York market as well, to invest in small multi-families. Would like to chat with you if you have some time to spare.

    0Reply
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