All Forum Posts by: Neil Hatton

Hello and good day. It was suggested I introduce myself to all here by Ming Lim. Took awhile but I think I have found the forum he suggested. I'm new to this aspiring career. The niche I'm interested in is wholesaling in the states then moving into buy and hold here in Calgary. Possibly buy and holds across the border as well. With that in mind, one question I have is about asset protection. Correct me if I'm wrong but this is how I see structuring my company 1 set up corporation here in Canada 2 use Canadian corp. to set up US C corp 3 use US C corp to set up holding LLC 4 use holding LLC to umbrella various state LLC's to function as company's that would be used for wholesaling, buy and holds and flips. Hopefully I will be able to pass thru profits to the Canadian corp. but still leave operating capital in the US LLC's. Is my line of thinking wrong or am I going overboard?

Hello @Chris Dyck, I have looked around in the forums section and found lots of Canadian content but, not the particular one Mr. Wing Lim spoke of.

Hello, @Chris Chang. Thank you for the welcome. I'm happy to be at a place that isn't full of hype. I plan on wholesaling in the US to raise capital and moving into buy and holds here in Calgary.

Hello Anthony,

I'm also from Alberta and new to real estate investing. I'm in Calgary. Welcome to Bigger Pockets.

Shawn Holsapple , Just to add, the mortgage rates here have dropped to around 3% if you look. Market values have dropped by about 4%. And our government has made it harder to get a conventional mortgage. Looking on foreclosure sites there seems to be slim pickings with approximately 20 - 40 % below market value. A foreclosure here can't just be taken over by the lender, it has to go thru the judicial system and be court ordered as a foreclosure. From what I understand, you will have to deal with an appointed representative to make an offer most times no negotiations aloud. Make your offer and cross fingers.

Shawn Holsapple , Thanks for the encouragement!! As for the market here I guess you could say it's, in my opinion and the little knowledge I have, is tough. As I drive around my city , I see many for sale signs and many houses sitting that way for months. Thank you for the links to the educational material. I will definitely utilize those links. I would like to stay in touch, can I add you as a contact?

Thanks @Ming Lim!!

I didnt even know there was a Canadian forum. On this site, at the moment, I'm at the ohh look squirrel stage, so much information, loving it!!

The information here certainly helps me understand the role or a real estate investor.

Cheers

Thanks @Brett Snodgrass!!

I do want to rehab and flip here in my backyard. I have a strong past in construction, not wanting to do the work myself but, have the knowledge to understand costs, work needed, construction schedules and draws. I'm really thinking of going the way of many other Canadians and remotely wholesaling in the US. Haven't done any marketing yet nor made any offers. Still in the consuming of information and rules to do this properly. I'm still pretty much green right now Kermit is jealous.

Thank you @Michael S., I'm glad to be here.

Welcome Chris. I am a newbie here and look forward to making friends, learning and prospering.