Canadian Starting Out

[Wesley Henry]

Hi everyone first of all I want to thank everyone who takes the time to share their experiences and knowledge on this platform. It is great to find like minded individuals who love real estate.

I am a Canadian with great credit that wants to invest in the States.

My business plan is to acquire multifamilies

Year 1

Ready to Rent(minor rehab)

Min. Bedroom 4+ Bathroom 4+

Purchase max. $170k Cdn, P/unit min. $300 cashflow

States interested in

OH, IN, PI, FL, DC, or MD

I would like to know what are the steps for a Canadian to purchase properties in the mention States.

Including should I register a business/Corporation?

Should I open a bank account in the States?

In regards to credit score, what should one do?

In term of getting a mortgage what should be done?

Do I need a real estate agent to buy or can I broker the deal myself?

What are the Tax obligations in these States?

Should I joint up with someone else?

[Michael Ealy]

@Wesley Henry

We invest primarily in Cincinnati, OH for houses and apartment buildings (although we buy hotels across the US) . You need to set up a good team of Property managers, contractors and real estate brokers wherever you decide to invest. You need to visit and really get to know the market because property values change on a neighborhood, sometimes block by block basis.

I heard that RBC Bank can lend to Canadian citizens to buy real estate here in the US.

As far as your other questions, you need a US based accountant. I can't help you there.

Please let me know if you need anything else.

If there's anything else you need, let me know and I will see how we can help.