Canadian Investor Entering the Detroit Market

[David Hersh]

Hello, I am a Toronto-based investor who has properties in the downtown area, and now I am looking to make investments in Detroit. As a Canadian, I need the help of experts who can help me understand lending, legal, and tax strategies and implications. I am already speaking with an agent too. If anyone has any folks that they can refer me to with expertise in helping Canadians invest in Detroit, please let me know. 

Many thanks!

[AJ Wong]

HI David, fellow Canadian originally from Oakville here...my mortgage team specializes in foreign national or international buyer mortgages with no US credit. Typically 25%+/- down payment is required. Check in with @Joseph Chiofalo they are a Nationwide lender he'll point you in the right direction. 

[Joseph Chiofalo]

Hi David, 

Are you targeting single family homes or multi-family properties?

Many of my investor clients have purchased in MI over the past year.  There seems to be good value and opportunity in Detroit. 

[Michael Smythe]

@David Hersh we have at least a dozen clients from Canada, so PM us for more info:)

[David Hersh]

Quote from @AJ Wong:

HI David, fellow Canadian originally from Oakville here...my mortgage team specializes in foreign national or international buyer mortgages with no US credit. Typically 25%+/- down payment is required. Check in with @Joseph Chiofalo they are a Nationwide lender he'll point you in the right direction. 

 Thanks AJ!

[David Hersh]

Quote from @Joseph Chiofalo:

Hi David, 

Are you targeting single family homes or multi-family properties?

Many of my investor clients have purchased in MI over the past year.  There seems to be good value and opportunity in Detroit. 

Hey Joseph, I am interviewed in both single family or multi-family. I will reconnect with you seperately. 

[David Hersh]

Quote from @Michael Smythe:

@David Hersh we have at least a dozen clients from Canada, so PM us for more info:)

 Do you offer lending or just property management services?

[Leroy K. Williams]

Quote from @David Hersh:

Hello, I am a Toronto-based investor who has properties in the downtown area, and now I am looking to make investments in Detroit. As a Canadian, I need the help of experts who can help me understand lending, legal, and tax strategies and implications. I am already speaking with an agent too. If anyone has any folks that they can refer me to with expertise in helping Canadians invest in Detroit, please let me know. 

Many thanks!

 Hi David,

From reading your post it looks like you will need the services of a team of Professionals who can help you set up here in Michigan in the most advantageous way.  We have such a team and we would love to help.  Our team has assisted investors from Canada, the UK, Israel, China, Argentina and many other places do exactly what you are aiming to do.

In addition, we can help you with finding great deals, point you in the direction of lenders if you need that, place you with one of our expert realtors, manage your rehab, and if you intend to hold we can provide Property management services,

'Inbox me if you would like to discuss further

-Leroy

[Michael Smythe]

@David Hersh as a PMC, we do everything we can to assist our clients.

So, we have referrals to lenders, attorneys, insurance companies, CPA's, etc.

[Travis Biziorek]

David, happy to help with the Detroit market. I own 12-doors there (from California) and have a full team in place that assists out-of-state and country investors.

We've worked with a lot of Canadian investors over the years and understand the ins and outs.

[Linda Labbe]

we are Canadians and invest in Detroit. We love the city and the market there but one has to have a great team on the ground and proceed with caution. Detroit is a block by block city. More then willing to share what we have learnt with anyone who wants to chat.

[Alex K.]

The key is in the location of your purchase. Go for the desirable locations in the city and if you’re investing from out of state or country my recommendation would be to stick with properties that require minimal rehab. 

[David Hersh]

Quote from @Alex K.:

The key is in the location of your purchase. Go for the desirable locations in the city and if you’re investing from out of state or country my recommendation would be to stick with properties that require minimal rehab. 

 Thanks for the advice, Alex!