Canadian buying Real Estate in US

[Saeid Safarmehdi]

Hi BP,

I was wondering if anyone can help me with legal and tax setup, basically what I need to setup before buying Real Estate in us (being a Canadian), I haven't find exactly what I need to do on BP or online. So far what I've learned, it doesn't make sense for me to setup an LLC in US (I will get double taxed, Canada & US)

Any information would be greatly appreciated.

Thank you in advance, 

[Roy N.]

@Saeid Safarmehdi

If you search the forums, this has been discussed frequently.

There is no one-size solution, what will work best for you will depend on a variety of factors:

• Your short, mid and longer term real estate objectives in the U.S.A. (how many properties, whether you need to repatriate earnings, etc);
• How you own properties and other assets here in Canada;
• Your income and marginal tax bracket; 
• ....

You should sketch out your business objectives, prepare a summary of your personal assets, debts and income and shell out a few hundred bucks to sit down with an accountant experienced with cross-boarder business and real estate.