Long-Distance Real Estate Investing in Canada

jyu97

New Forum Member
Registered
Hi REIN members! Hope you are all doing well during this pandemic!

my name is Johnson and I am a new member on REIN. I have yet to dip my toes in the real estate market but I am very eager to learn and have been educating myself through podcasts, books and online forums.

I currently reside in Vancouver, BC and I would like to know what are the possibilities of investing out of province as the prices in Greater Vancouver are way out of my budget and hard to cash-flow. I have heard good things about the EAST end and prices are not as inflated so it should be easier to cashflow. My goal is to buy and hold and cashflow

I just have a few questions regarding long-distance real estate investing in Canada:

- Are there any laws or restrictions on buying properties as an investor cross-province?
- what about the tax rate?
- How does the process change if you are getting a mortgage locally but getting an out of province property?
- Has anyone on this forum done anything like this and do you recommend doing this?
- are there any markets in the outskirts of Vancouver that you guys would recommend me looking into?


Thanks,

Johnson
 

CorySperle

Senior Forum Member
REIN Member
I also reside in BC and all of my properties are on the prairies and this is unlikely to change in the near future. I would start by talking to a some mortgage brokers on the properties you are looking at. Once you have targeted an area talk to some local property managers to narrow your focus even further. There are some challenges such as assembling a reliable team in your target location, but it is all doable. Taxes are taxes, you pay when/if you make money so pray you have to pay millions in taxes in the years ahead!
 

Thomas Beyer

Senior Forum Member
REIN Member
You need to become an area AND property type specialist first.

Nothing wrong investing elsewhere but keep costs and logistics in mind.

Flying to east coast is a 5-6 h flight, possibly with a layover in YYZ, a 3-4 h time zone change AND at least $2000/trip for a 3-4 day trip each.

Consider investing in US instead.

How to get started thoughts here https://myreinspace.com/threads/educational-rein-posts-by-thomas-beyer.10663/
 
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