Want to invest in the USA. But how

AllisonStreet

New Forum Member
Registered
Hey all,

I am currently an owner of two properties. Of course, I am a Canadian citizen (only). I have thoughts of getting a retirement property in the USA for my own use in 15 years - and it makes sense to me to work toward getting my toe in the waters NOW in the US market.

The thought would be to get an investment property in the US in order to begin building US equity and learning how to operate in the US market. And I gotta say - wow, there are some nice, affordable places in areas that I am looking. (Current live in the the GTA, looks like I could sell my two home and buy 6 in the US in markets I am looking at!).

I honestly don't know where to start. I mean, yes - research the market, know that you are getting an appropriate property for the market, know that you can locate reliable tenants.

And who knows - there may be opportunities with property management.

Insight would be appreciated. What am I looking at for financing, costs, tax implications? How do I build a "team" of contacts - agent, banker, etc for a US purchase?
 

Thomas Beyer

Senior Forum Member
REIN Member
Start with an area you like. Talk to realtors in the area that specialize in rental properties. Know what good value is, what rent levels are and what the rent control laws allow.

Or start with secondary research on what are high growth areas in the US. Many in the south are. Avoid Dem run rent controlled cold weather states !!

FL, TX, AZ, SC, GA, NM, NV all good !! There’s 20M to 40M homes for you to look at !!

Getting a mortgage will be very VERY hard at first. Easier once you got a drivers license, and own a house or 5.

Thus start with a LOC on the Canadian home ie buy in cash in US !!
 
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