Canadians in the USA. Where to start.

[Mathieu Gagnon]

I'm from the suburban of Montreal, Canada.

I'm hearing so many successful stories about people investing in the US. 

We managed to gather 40K in cash for this project and have access to a lot more (Friends and Family money)

We want to start BRRRR in the USA.

But we need so much help with it.

We are willing for different kind of scenarios. 

We project to buy and hold single-family units but are open for something else. (Mobile park, lots, etc)

We understand that we have to create a structure first and maybe start with a single-family home but we are throwing this request out there.

So please.

If you have any tips or want to help in any kind of way we are more than interested to hear from you.

Talk to you soon.

Thank you a million times.

MAG

[Janie G.]

@Mathieu Gagnon

Congratulations on your openness to owning US real estate as a vehicle for gaining wealth and leaving a legacy to your family! Understanding your WHY is very important. 

Being a Canadian citizen myself, investing in the US has allowed us to open many doors we would have otherwise not been able to open. 

I love that you are open to exploring different real estate strategies. I do agree with @Mitch Messer; establishing a plan before ANY entrepreneurial journey will save you years of trail and errors. 

I certainly understand the reasoning behind owning a property that pays for itself, however, cash-flow IS VERY important and so is return on investment. These are fundamental concepts in real estate investing that you will want to master. 

To put this in perspective, if you purchase a single family home that is NEGATIVE cash-flow of $100.00/month, it might not sound so bad now because it's one house. And it's true that paying out of pocket $100/month may not sound so terrible since the house almost pays for itself. 

But let me ask you this: 

How many of these investment houses can you afford? What if your goal is owning 10 properties? Are you willing to pay $1000.00 out of pocket every month to own these properties? What if your goal is to amass a small portfolio of 50 properties in your lifetime?  

On the other hand, what if you bought a property that made you $100.00/month? What if those same 10 properties made you $1000.00 instead AND paid for themselves? 

How many of those can you afford to buy and hold? ;-) 

As someone who invests in real estate full time, who went from owning 1 single family home (using the BRRRR model) to owning over 100 units of rental real estate in less than 3 years in the US as a Canadian, and who plans to acquire more real estate in the years to come, I urge you to reconsider your technicals and investment metrics. ;-)

I'd be glad to help you in this regards. 

Talk soon!