Are you ready to invest in the US?
Many of my clients have expressed interest in buying properties in the US. They often have questions like where are the best markets? Is it Miami? Phoenix or Las Vegas? I personally think now is once in a lifetime opportunity to buy properties in the US at not only below market value, but at a below construction cost. In about 5 years time when the real estate cycle is on the up swing again, you will be laughing and glad that you have bought some. I’m writing this entry on the plane to Vegas now to attend a real estate investing conference and for the next 4 days, I’ll be networking with other like minded investors and looking for the best places and deals to invest in.
There are many ways to profit in the current market in the US. You can buy, hold and rent, flip, lease option, land banking, being a money partner and invest passively, etc. Understanding what kind of investor you are is very important as it helps with your decision-making. However, please be very careful when investing in the US. There are a lot of traps to be cautious of and don’t expect this venture to be smooth sailing either. You need to do your homework and make sure that the property is sound and your property manager is solid.
How to buy is just as important as where to buy because there is no point in making a lot of money and then have to give most of it back to the tax man or lose it all in a lawsuit. How should a Canadian hold his or her properties? What kind of legal structure do you need to set up to hold your properties? How do you take advantage of tax breaks? You will save yourself a lot of time, money and hassle if you have answers to these questions before you begin your US property purchases. You want to enjoy the fruit of your investment and not have to consistently worry about it.
If you want to discuss more on how to buy in the US, please contact us and we can set up a free initial consultation.