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Updated about 6 years ago on . Most recent reply
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Canadian Investor wanting to buy first US property
Greetings,
I come from the north, British Columbia specifically. I was hoping to get opinions on what I should Invest $45k (US currency) on in terms of a SF home or MF? I'm hoping to pick up a 2-4 unit building. I currently have a duplex in British Columbia, the property was purchased for 900k (not cash flowing, this is typical in the area, I'm sure most people here are familiar with Vancouver it is a massive appreciation market). I had read about and watched Brandon Turner talk about the BRRRR strategy. I had a few questions I was hoping to get answered.
1) Would this particular strategy be do-able for a Canadian Investor?
2) How much down payment does a foreigner like myself require? Can I do 20%? Or is it 30%?
3) I have read on these forums banks want to loan more than 100k and not anything less, is it easy to get financed as long as I am borrowing more than 100k?
Thanks all for your help, appreciate it.