Tips for a Canadian wanting to start investing in SFR in US?

[Steve Basra]

Hello All,

I am new to BiggerPockets and looking for any advice, tips for a Canadian to get started in Investing in the US. Looking to start with a small property in order to get things setup. (PP of $50K-$100K)

Here are some questions, I have been thinking of and would appreciate your feedback on. 

1. What would be a good state to start investing in? I live just north of Toronto, Ontario.

2. What type of property would be good to start with?

3. Should I register an LLC? What state would be best?

4. Who finances Canadian Buyers?

Thanks in advance for your help!

[Eric Delcol]

@Steve Basra

Come to Larry's meetup - Canadians who invest in the US.  The next one is this Monday:

https://www.biggerpockets.com/forums/521/topics/644340-toronto-meetup-for-investors-in-us-real-estate-mon-dec-10-2018

To answer your questions:

"1. What would be a good state to start investing in? I live just north of Toronto, Ontario."

The one that you are most knowledgable about.

"2. What type of property would be good to start with?"

Single family houses with an HOA or condos are a good place to start as that takes your hands off some of the general maintenance.

"3. Should I register an LLC? What state would be best?"

This is about as loaded a question as 'what kind of car should I buy'. It depends on your situation, but most likely you'll want to avoid an LLC as a Canadian citizen. There are other structures that are better for most situations.

"4. Who finances Canadian Buyers?"

RBC, TD, and BMO have sister companies in the US that will use your Canadian credit to finance your US property.