Member since Summer 2023

[James N Beliak]

Hi everyone. My name is James. Besides our home , I own a condominium and some property with other investors. I have done the Rookie Boot Camp which was very beneficial to me  and I am now doing the Multi Family Boot Camp.
I was interested in buying some US property in Tennessee, Ohio & Florida. I was looking to Rent to Retirement and another similar company. 
However, liability issues came up about a Canadian owning US property outside of an LLC , but also the heavy taxation of an LLC for a Canadian. There is a solution for Canadians, from NCH out of Nevada to use a regular corporation to hold limited partnerships. Apparently, there are other strategies I don't know about yet.
The issue with high interest rates is they are even higher for foreign investors. Therefore , the down payment amount has to be higher so the property cash flows to break even. 
 I also would like to take advantage of Vendor Takebacks or other forms of using other peoples’ money. The process continues. 
Best wishes to Everyone. 

[Zach Lemaster]

@James N Beliak

Welcome!  This topic can be very specific to each person's situation.  I personally recommend speaking with a CPA that specializes in Canadians investing in the US and how to best prepare your investing strategy along with understanding what taxes would look like for your specific situation.  I would be very cautious to take general advice on this topic as many people may make assumptions without fully understanding your situation, goals and the international tax scenario.  We work with many Canadian investors and have some good CPA recommendations for you should you need them.  My wife is Canadian (from Alberta). 

The best part of investing in the US is the ability to write off the majority (if not all) of your tax liability on rental properties if you have the right strategy.  Just my humble, non-cpa opinion!  ; )

Here to help however we can!

Some additional references:

https://www.biggerpockets.com/users/ZacharyCole/references

https://www.biggerpockets.com/forums/92/topics/765347-rent-to-retirement-review

https://www.biggerpockets.com/forums/92/topics/1116050-a-huge-win-with-cori-from-rent-to-retirement

https://www.biggerpockets.com/forums/850/topics/895660-my-first-investment-property-an-out-of-state-deal