First Post Canadian Need Advice on setting up LLC, Cross border tax and Lenders

[Vik Soota]

I'm a Canadian investor with a passion for real estate, particularly Fix and Flips. I've decided to venture into the Florida market and would love insights from those experienced in this field.

Seeking Guidance:

Here are a few areas where I could use your expertise:

LLC Structure: Being new to the U.S. market, I'm unsure about the best type of LLC to open for Fix and Flips in Florida. Any recommendations or experiences you can share?

State for LLC: Given that I'm a Canadian investor, is there a specific state in which I should open my LLC for Fix and Flips in Florida?

Tax Advice: What tax considerations should I be aware of as a Canadian investor doing Fix and Flips in the U.S.? Any tips or resources you can point me to?

Canadian-Friendly Lenders: As I explore financing options, I'm keen on finding lenders who are friendly towards Canadian investors. Any recommendations or experiences in this area?

Community Collaboration:

I believe in the power of community, and I'm here not just to seek advice but also to contribute as I gain experience. Let's create a space for meaningful discussions and shared insights.

I appreciate any guidance or tips you can provide as I embark on this exciting journey. Looking forward to connecting with you all!

[Giuseppe Pavone]

Hi @Vik Soota , I'm a Canadian who moved down to Floriday to invest in real estate full-time about 5 years ago.  I can refer you to my CPA who specializes in cross-border accounting and can provide some advice on what type of entity to set up, just message me if interested.  As far as financing is concerned, I'd highly recommend reaching out to some US affiliates of Canadian banks (eg. RBC).  Last I checked they have loan products for both a 2nd home or investment property and they'll use your Canadian credit to qualify you.  I would talk to all the major Canadian banks to see if they have US affiliates who could help you.