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Updated almost 12 years ago on . Most recent reply

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Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
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U.S.A. and CANADA differences?

Bill Gulley#3 Guru, Book, & Course Reviews Contributor
  • Investor, Entrepreneur, Educator
  • Springfield, MO
Posted

We are getting many investors north of the border of the U.S. and I'm clueless of the differences between the two countries as to regulatory issues and laws.

It is important to know or have a basic understanding as many issues, such as tenant/management, financing or flipping advice given is often anchored in the underlying regulatory environment. As an example, I might suggest a lease-option in some deal out of concerns for the due on sale issues of an installment contract over some period of time, but I don't know if there are any due on sale issues up there in the frozen tundra :)

So, what are the issues or differences that play on real estate transactions up north?

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Steve L.
  • Investor
  • Rancho Cucamonga, CA
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Steve L.
  • Investor
  • Rancho Cucamonga, CA
Replied

Real estate is extremely expensive in most parts of Canada.

Mortgage Interest is not tax deductible.

They have no such thing as 30 year fixed mortgages... typically 5 year max.

Canadian banks typically loan money on the cheap.

Owning US property makes them have to do a US tax return.

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