Canadian Investor wanting to buy first US property

Canadian Investor wanting to buy first US property

Member since 2015 · 7 posts · 0 votes

Greetings,

I come from the north, British Columbia specifically. I was hoping to get opinions on what I should Invest $45k (US currency) on in terms of a SF home or MF? I'm hoping to pick up a 2-4 unit building. I currently have a duplex in British Columbia, the property was purchased for 900k (not cash flowing, this is typical in the area, I'm sure most people here are familiar with Vancouver it is a massive appreciation market). I had read about and watched Brandon Turner talk about the BRRRR strategy. I had a few questions I was hoping to get answered.

1) Would this particular strategy be do-able for a Canadian Investor? 

2) How much down payment does a foreigner like myself require? Can I do 20%? Or is it 30%?

3) I have read on these forums banks want to loan more than 100k and not anything less, is it easy to get financed as long as I am borrowing more than 100k?

Thanks all for your help, appreciate it.

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  • Investor · PA · Member since 2013 · 1k+ posts · 602 votes
    7y

    There are banks that will lend less than 100k. I have received loans for under 40k. In the US I would say that MF is not always superior to SF in terms of cash flow or appreciation.

  • Member since 2015 · 7 posts · 0 votes
    7y

    Which states are best to invest in? Basically looking for strong ROI and landlord friendly states here.

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