CANADA: Debating whether to start here

[Tinh Marcus Pham]

Hello BP family!

I’ve recently have had a spark at this start of this year looking to change my life. I’ve powered through 4 books in a span of 3 weeks and have finally found the education of where to place my money. The only problem is that I’m extremely intimidated looking into the market here in Canada.

Average single family homies are anticipated to hit around $860000 and I specifically live in Vancouver BC where crack shack looking homes are selling around 2 million each. A couple friends of mine have invested into the suburbs and some of them have built over $500000 in equity in just a year.


Everyone is a genius in a bull run. Should I still try to invest in my country? I’ve thought into investing into US properties, but I just fear I don’t know many people that could provide me the sufficient info I would need. 

Any advice would be greatly appreciated… I’m 24 and have spent the last 6 years of my life trying to build my business to bring me over 6 figures only to realize that I’m racing against sky rocketing house prices. I feel like an idiot for having a consumer mindset prior, not jumping in early, and not educating myself sooner. 

Thank you for reading.

-M 

[Jason Shackleton]

Hi @Tinh Marcus Pham

I am a fellow Canadian investor. You live in the most expensive market in canada. It is hard to crack into. You are likely best to look at more rural areas. However even then you will have a hard time finding cash flow. It is still possible in Canada but getting harder and harder.

I have a bunch of Canadian Clients that are looking to shift their investing into the US. They generally have their appreciation play in certain major Canadian markets. Then they invest in certain US markets for cash flow. If you are looking to invest in the US I can help connect you to some contacts that are very experienced in this area.

There is a ton of stuff to consider such as proper entity formation, understanding the tax implications, picking a landlord friendly market and undertaking how lending works for foreign investors.

I hope this helps,

Jason