Investor · Calgary · Member since 2019 · 10 posts · 2 votes
Hello,
I'm a real estate investor based from Calgary, AB looking to expand my reach into Florida for the obvious reason and more investment opportunities compared to the market up north.
I want to ask my fellow Canadians what the process was like for them the buy/hold/wholesale in the States.
ie. opening an LLC, company set up, how to ensure I do it the right way and avoid any tax mistakes like double taxed, how you get payed once you sell off a property
Any information about how to set up my wholesaling business in the states would be appreciated. I do own a business here in Canada already just to clarify and not sure if I can use my existing entity or if I would also have to create a new one from scratch as well.
LLC isn't recognized under Canadian Tax Law. You need to go more old fashion and look into a flow through entity structure that works for your situation. Find a good cross border CPA.
Did you get this figured out? I am located in British Columbia. I'm Looking to do virtual wholesale deals in the USA, but not sure how to get the correct business structure set up.