US Citizen but Living and Working in Vancouver, BC, Canada

Member since 2019 · 3 posts · 0 votes

Hi! My name is Shreyasi Das and I am currently living and working in Vancouver, BC, Canada. I am a homeowner here but can’t afford to invest in more real estate in this expensive city! I am looking into the possibility of investing in the US to generate more income. I am 27 and a complete beginner here! I am a US citizen (was born in Munster, Indiana).

I have not decided where exactly to invest yet, though my parents currently live in a Pittsburgh, PA so that might be a place to start. I had done a quick search and found these cities were recommended, aside from Pittsburgh:

Orlando, FL

Any advise is welcome :)

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Meghan Chomut
Investor · Thunder Bay, ON · Member since 2017 · 83 posts · 22 votes
7y
What about a US city driving distance from Vancouver? Then you can have the option to go to your property should you need to.
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Julie Toh
Specialist · Mortgage Broker Canada · Member since 2015 · 316 posts · 118 votes
7y
@Shreyasi Das Welcome to Vancouver, B.C. and also to Biggerpockets. Have you looked at other markets in B.C.?
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Shreyasi Das
OP
Member since 2019 · 3 posts · 0 votes
7y
Hi Meghan and Julie, thanks for the recommendations! I have not yet looked there... @JulieToh, are there any disadvantages to investing in real estate for the purpose of generating income if I'm only a permanent resident and not a citizen of Canada? I have not yet looked into it!
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Julie Toh
Specialist · Mortgage Broker Canada · Member since 2015 · 316 posts · 118 votes
7y
@Shreyasi Das Generating positive cash flow income from investment properties is an advantage in itself. As a permanent resident you are exempted from paying the foreign buyer property transfer tax - another advantage!
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Basit SiddiqiBusiness Member
Accountant · New York, NY · Member since 2015 · 8k+ posts · 3k+ votes
7y
@Shreyasi Das

You want to consult with an accountant if you ever decide to invest in an entity.

Canada/US may treat entities very differently for tax purposes.

I also give a plus for investing in an area that you are familiar with, therefore I vote for Pittsburgh PA.
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Max FeinbergPro Member
Real Estate Agent · Pittsburgh, PA · Member since 2017 · 151 posts · 70 votes
7y
Hello Shreyasi! While I am definitely not against investing in places that you are not an expert in, I do believe that it would be nice to start in a city where you have some roots/knowledge. I am unfamiliar with the Vancouver market, but if it is possible to achieve your goals, I would recommend looking there first.
Having your parents in the Pittsburgh area could be advantageous as well. Long distance investing is all about having a good team in place and with proper due diligence I am confident you can achieve this in most cities!
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Shreyasi Das
OP
Member since 2019 · 3 posts · 0 votes
7y
Thanks so much for your responses everyone!
Pittsburgh PA is definitely more affordable than Vancouver BC.
At this point, it is all speculative as I do not have enough saved for a downpayment yet (just bought my condo here in Vancouver 1.5 years ago).
However, when the time comes I will probably share this expense with my partner who is a Canadian citizen only.
How would I go about researching whether to buy an apartment to rent, or a townhouse, or duplex, or home?
Here in downtown Vancouver, it is common it seems for investors to buy a single apartment and make income from the rent. It is very easy to rent out here since it is downtown and so many tech companies are situated here.
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