Canadians buying in the U.S.
I have a few properties here in Brantford, Ontario but am very intrigued with the U.S. I'm also looking in my own city for deals but with house prices skyrocketing Its becoming harder.
I have been reading up on the tax implications and what not but I want to hear from people on here doing it. I have a mortgage coming due in 6 months but also want to wait for the exchange rate to come into my favour. How did you guys get started? how did you pick the market? Mortgage advice? did you start an LLC? any feedback is appreciated
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I am currently investigating the opportunities in the US for single family and multi family homes. As a Canadian I have found several hurdles involved and am curious if anyone here is or is working on a similar strategy.
1. I can see the LP and multiple entities are the best way to go from a liability standpoint. They also seem pricey to set up.
2. Taxes are doable but escalate in cost with the above mentioned entity structure.
So far it appears an efficient tax strategy is very important. Any advice? Anyone been through it? As for the corporation and limited partnership setup, is that something anyone has been through?