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
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