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RE Investing in US as a Canadian
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
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.
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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.
Thanks Charles and Jonathan!!
Hi Chris, I'm a Torontonian who got started recently with a duplex in Buffalo. Happy to chat if you'd like.
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 .
Thanks @Matthew Irish-Jones!! This is definitely helpful! I'll shoot you a DM!
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
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.