All Forum Posts by: Elliott Milek

@Zeshan Choudhry Ho Zeshan- if you still have any questions pertaining to your US investments please do not hesitate to reach out, i would be happy to help. Elliott

@Brianne H. Hi Brianne- feel free to reach out if you still have any questions. Elliott

@Jolene Tisdale Hi Jolene, I’m from Ottawa that services clients around the country in addition to investing in the US. Feel free to reach out if you have any questions. Elliott

@Adam Godfrey Hi Adam, I would concur with chad on this one, other than being able for a Canadian to use the 1031 exchange rules. Unless you plan on moving to the US I would not advise for a Canadian to utilize the 1031 rules. There are significant advantages over investing in the US than in Canada though, primarily the cost of entry such as the lower property values. You can purchase a property in the US cash for the cost of a down payment here in Canada. Feel free to send me a message if you would like to discuss in more details. Elliott

@Jason Mercieca Hi guys, there is a monthly meet up on Yonge street. Next one is sept 10 at 4916 Yonge st. Currach grill

@Yasir Rahman Just sent you a inbox note, let’s discuss this week.

@Akash Y. Hi Akash, If you still have any questions feel free to reach out as I am a cross border accountant located here in Ottawa. Elliott

@Dylan Collier This thread is a bit old, but if you still need a lender let me know and I can point you to a guy I use in New York. Also, if your a Canadian I would recommend revising your llc structure, it’s not the most tax efficient structure for Canadians. Send me a message if you would like to discuss in a bit a more details.

@Michael Tung Hi Michael, Yes in theory a foreigner can do a 1031 exchange for US purposes, but the issue arises in the country of residence. If you are a tax resident of Canada for example while you can perform a 1031 exchange In the US it does not make sense as you would still need to report the gain on your Canadian tax return. In addition, Since you deferred the gain in the US you will not be able to utilize a foreign tax credit here in Canada to offset the Canadian taxes, therefore, it’s not a great yax strategy for Canadians. I would speak to a cross border accountant in your home country. If your located in Canada feel free to reach out and I can answer any questions you may have. Thanks

@Yasir Rahman Hi Yasir, where are from? I am a cross border accountant in Ottawa Canada, if you have any questions please reach out