I am considering real estate investing in Newfoundland Canada. I will soon retire from the US military with a pension and we are looking for investment opportunities. Let me explain... My wife is from Newfoundland Canada and we visit 2-8 weeks (spread over a few visits) per year depending on where we are living at the time, when I retire from the military, our visits will be more frequent and likely longer. It seems like it would be nice to have some legal work/remodeling on personally owned investment properties. That would allow more frequent and longer visits. I like the BRRRR method and have considered flipping.
Are there any Americans out there that are investing in Canada and/or more specifically Newfoundland? Is your spouse or a business partner Canadian? What BP groups discuss this type of situation? What are the right questions to ask about this idea for taxes, banking, legal working/investing laws, etc.? We have lots of family in NFLD that have tools and extensive remodeling experience. Thanks for your advice!
I'm still interested, just checking back.
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Good questions. I'm in a somewhat similar position with a wife and family from Nova Scotia and our visits will likely increase in the coming years. In researching I ended up at your thread, which unfortunately had no responses. Did you proceed with any properties? Any insight you can share?
Doesn't seem to be much of a response here from any Newfoundland locals.
I work in St. John's and have been doing some investment myself. My entire career has been based on real estate consulting, project management, etc. High-level assessment is that we are probably at the bottom of our market right now. Most folks are expecting a rebound over the next 18 - 36 months.
Any questions about Newfoundland I'll happily post my opinion. I don't know the markets outside of St. John's as much as I know the city, but will happily help if I can.
@JP Hill I’m an investor down here. It’s really a nice place to invest considering the city development going on. Give me a shout anytime.
Newfoundland is a beautiful place to travel and explore. I looked at some properties in Gambo and Gander. I decided not to invest. Seems like the income stream and taxes for two countries complicates the situation too much to make it worth the time and effort.
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