Canadian interested in USA RE investing

[Edna N.]

Hello investors, 

I am Canadian and our housing market here in Ontario is so unaffordable the numbers mostly don't make sense as rentals. Therefore I'm now looking to start investing in RE in the U.S - prefer neighboring states like New York (Buffalo?) Or Michigan  (Detroit?).

I've done some research, listened to hundreds podcasts and watched hundreds youtube videos.im trying to evaluate which is a good market (location) to invest.

I'm interested in fix and flips or BRRRs. 

if you're not interested in partnership but are familiar with these cities, then you have valuable information to guide me in selecting for example areas to avoid when purchasing investment property.  I look forward to hearing from you if that's the case.

Many thanks in advance. 

[Ty Coutts]

Investing in real estate in the U.S., particularly in neighboring states like New York (Buffalo) or Michigan (Detroit), can be a promising venture for Canadian investors.

Evaluating Markets:

Buffalo, New York:

Pros: Buffalo has seen revitalization efforts, making it attractive for investment. It has a diversified economy with sectors like healthcare, education, and manufacturing. Property prices are relatively lower compared to major Canadian cities.

Cons: Certain neighborhoods may have higher crime rates or lower demand for rentals. Economic fluctuations can impact property values.

Detroit, Michigan:

Pros: Detroit offers low property prices and potential for high returns on investment. There are opportunities for fixer-uppers and BRRR strategies due to abundant distressed properties.

Cons: Some areas may still struggle with high crime rates and vacant properties. Local economic conditions can vary by neighborhood.

Key Considerations:

Local Economy: Research the economic stability and diversification of each city. Stronger economies generally support higher rental demand and property appreciation.

Neighborhood Analysis:

Safety and Crime Rates: Avoid neighborhoods with high crime rates, as these can affect property values and rental income.

Property Demand: Look for areas with growing populations or proximity to employment centers to ensure consistent rental demand.

Property Condition: For fix and flips or BRRR, assess the condition of properties carefully. Consider renovation costs and potential for adding value through improvements.

Resources and Tools:

Local Real Estate Networks: Connect with local real estate agents, property managers, and investors for insights into specific neighborhoods and market conditions.

Online Tools: Use real estate websites and platforms to analyze property prices, rental yields, and neighborhood demographics.

Tips for Canadian Investors:

Tax Implications: Understand tax implications for Canadian investors owning U.S. property, including withholding taxes on rental income and capital gains.

Legal and Financial Advice: Consult with a cross-border tax specialist and real estate attorney to navigate legal and financial aspects of investing in the U.S.

If you would like to discuss further/need financing please feel free to reach out. Hope this helped! Hit me up with any more questions if you like.