Hi I am a Canadian trying to jump in to this exiting investment. I live in the metro Toronto area houses here are so expensive, so I was looking in US, Rochester new York, buying and selling or holding. but I wonder what are the legal procedures that I have to follow. can I really invest in USA. Please someone help me regarding this matter.
@Thiru Subra yes you can invest. I believe if you contract out the management you may not even have to file for a tax id number. The management firm would pay all relevant taxes and keep you in compliance.
PM me if you would like to chat about Rochester. I have owned and managed properties in my area for 11 years. I would be happy to help.
I'm an agent here locally and Matthew is correct from my knowledge please feel free to reach out to me as well. Thanks
thanks you for your responses. Sure I will contact. thanks again
I currently know plenty of investors out of Canada who have purchased several houses here in the Rochester market. Good luck and let me know if I can help!
am in Canada and love ohio where am getting great numbers
I am also from Canada and have invested in the US. @Matthew Drouin. As far as I know a Canadian investor who is receiving income from a property in the US will need to file a US tax return claiming that income. That would require having a US tax number...an ITIN if the individial is a foreigner according to the IRS. He or she would also have to claim that income on his/her Canadian tax return and also claim a Foreign Tax Credit to get back the tax paid to the IRS. That is how I understand it anyway. Cheers!
Hi @Thiru Subra
Yes, we Canadians can absolutely invest in US real estate - I've been doing it since 2012 and know a lot of Canadian investors operating in the US market. I plan to set up a regular Toronto meet up for Canadians investing (or interested in investing) in the US. Hopefully you'll be able to attend. I've been on the road for the last couple weeks looking at opportunities in Indiana and checking on my Chicago projects but plan to set the meet up when I get back next week. Stay tuned!
Feel free to PM if you would like to set up a time to chat.
This post has been removed.
Join the Largest Real Estate Investing Community
Basic membership is free, forever.