Rental Property Investor · Cincinnati, OH · Member since 2020 · 52 posts · 25 votes
Hello to all Canadians real estate investors on BiggerPockets! I am just getting started as a beginner real estate investor located in Vancouver, BC, Canada. I would like to reach out to fellow investors who have experience in cross-border investing, specifically as a Canadian investing in US real estate. After doing some research, I have learned that there are "landlord friendly" states that are more suitable for buy/hold investors. These states can include Texas, Indiana, Colorado, Georgia, Kentucky, Mississippi, Alabama and Michigan... just to name a few. My question is that which state / cities would you guys recommend to dive deeper for a first time buy and hold Canadian investor in the US?
Please also connect with me if you'd like to talk more about this topic!
Investor · Port Coquitlam, BC · Member since 2013 · 203 posts · 119 votes
5y
Hi @Johnson Yu and welcome to the BP community. There are many good markets in the US but as a Canadian living in Canada, it can be more complicated than just buying in Canada. If you plan to grow a large business in the US, be sure to do your research so that you are optimized from a tax perspective. If not and you have the wrong business structure, you can end up being double-taxed.
If you are open to investing long-distance in Canada, there are markets that can cash flow. Checkout Prince George in BC, New Brunswick, Nova Scotia, Saskatoon, just to name a few. We have a few passive rentals in Saskatoon that work for us because we have a good local team on the ground there.
Feel free to join our FB group at https://www.facebook.com/group... if you want to connect with other local investors. Many in our group are like yourself, just starting out.
If you want to connect online, message me and we can get on a zoom call. Good luck with your RE journey.
Realtor · Calgary, Alberta · Member since 2020 · 19 posts · 14 votes
5y
@Johnson Yu location is one consideration for sure but it’s also really important to set yourself up properly for tax reasons so you don’t get dinged by the CRA. Let me know if you want me to connect you with a great cross border real estate lawyer/investment specialist. She’s based in Florida but originally from Toronto - not on BP but I have her contact details on my laptop (on my phone right now so don’t have it handy). I’m also looking into getting set up south of the border because it’s so much more affordable even with the exchange rates.
Realtor · Calgary, Alberta · Member since 2020 · 19 posts · 14 votes
5y
@Brian Hosier I’d love to connect! Based in Canmore and investing in Calgary, The Bow Valley, and Vancouver Island and super interested in exploring options south of the border (and Saskatoon...) Going to check out your Facebook group!
There are gorgeous places in Canada 2 hours or less from the city of Toronto that are developed into their own cute towns. Hamilton, Kitchener, London, Keswick, Cambridge, Barrie just to name a few.
I’m a Realtor in Toronto and rea search many areas as an investor. Let me know if you need help
Property Manager · Orlando, FL · Member since 2020 · 200 posts · 194 votes
5y
Hi @Johnson Yu We are a property management company in Orlando and Central Florida and some of our best clients are out of the county investors from Canada! Florida is an affordable market and we are a one stop shop which makes our services very convenient for beginners in RE! Let's connect if you want to chat about different areas!
Property Manager · Kissimmee, FL · Member since 2019 · 445 posts · 266 votes
5y
Hi there @Johnson Yu! We're a vacation rental property management company in Orlando with 85+ properties under management. We have quite a few Canadian investors/homeowners currently in the VillaKey family, and also many guests who visit our homes from Canada every year!
Please feel free to let us know if we can provide performance data on occupancy and revenue on any vacation rental homes in the Orlando market, and also provide an overview of the market. Have fun exploring properties online, and Let us know how we can help.
Real Estate Broker · Warren, MI · Member since 2020 · 14 posts · 6 votes
5y
Hi @Johnson Yu, we are a full service real estate company in Metro Detroit. Currently managing 200+ rental units and flipped over 40 homes in the last 7 years. Would love to connect and help!
Investor · Louisville, KY · Member since 2011 · 279 posts · 248 votes
5y
I'll second Rob's comment... Louisville, KY has been very good for many of us. It's a good compromise between appreciation and cash flow, but you can't take the city's metrics and apply to every street or neighborhood, it's just not that cut and dry. Feel free to DM me if I can assist.
Realtor · Indianapolis IN · Member since 2018 · 464 posts · 339 votes
5y
Hi Johnson, I have a Vancouver investor that has purchased 13 properties here in Indianapolis. I will DM you his contact info so that he can tell you some of his challenges and successes. Indiana is a very landlord friendly state.
Just have to say what a great thread. I am also looking into investing in the States and I am from Toronto Ontario.
I am particularly interested in landlord friendly states including - Alabama, Arkansas, West Virginia, any other more recommended states?. I know this thread is quite old now but has anyone made any purchases since and what were some of the first steps you had taken?