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Canadian investing in US
Hello, I am just doing some research and homework and crossing things out on my list of things to do.
2 questions in my mind and which still I haven't found answer to
1. which legal entity is the best for me to enter the market?
I have met up with various accounting firms (which are not specifically cross boarder specialist since it seems to me its hard to find them in Edmonton, AB, and I assume they are going to charge me tremendous amount of money for consultation and filings) when I talked to the partners at these firms, they all gave me different opinions. Some say I am better off with buying properties under my name directly, some say LP with Canadian corporation which I own, some say LP partnering directly with me. So I don't know what I should be doing as I am given so many options.
2. What is the smarter way of getting financing done? I know RBC offers mortgage throughout all states with reasonable mortgage rate. TD offers mortage in the east side of the States. I wonder why not many Canadians are not taking this opportunity but rather go with private lenders in states with 3~4% higher interest rate
Here is my situation
I am looking to buy and hold SFH, MFH (duplex~fourplex) and I am looking for cashflow with good NOI and COC return which kind of gives me insight to invest in Midwest (Kensas city, Indianapolis) and Texas (Houston, Dallas). I am willing to purchase multiple properties up to 3~4 right now, if there are good opportunities. I am looking to buy 2~3 properties per year using conventional financing way (25% down and 75% OPM ie. bank or private lender) and I will be keep doing this until I become financially free.