Updated over 5 years ago on . Most recent reply
Buying properties in America
This is something I would like to do in the future, possibly next year because i need to rebuild my reserves for my two properties that i acquired this year. I have only been to USA a handful of times and don't know much about the markets and different laws each state has. I know i need to research the location, the types of people ages and incomes, what is offered in the community as far as services and amenities.I would like to use the BRRR strategy for this property and am looking for a multifamily. Looking at the markets in the states is a little overwhelming as there is a lot more disparity between property prices and locations opposed to where i'm from in Canada. If anyone can give me some advice or point me in the right direction as far as some of the foreign fees and taxes and other costs I have to take in consideration when shopping across borders. Also what would you guys think of finding a good hard money lender to raise the capital for either purchasing or rehabing. Thanks in advance
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We work with foreign investors and the first step we suggest is for them to begin a relationship with a US accountant who works with foreign investors. They will be able to walk you through the process and your options on how you are able to invest. A hard money lender will be less difficult to find in the US since they normally do not check credit or have a credit requirement. We have worked with a coupe lenders prior that do longer term loans for foreign investors but I think they also do short term loans. DM me if you need any contacts or referrals but I believe speaking to an accountant is your best first step.