Windsor Builder/Realtor looking to invest in Detroit

[Levi Goulet]

Hello everyone. I signed up here with the intention to gain some insight on investing within Detroit. Coming from across the border I'm interested in the following;

Taxation

Corporation opening process

Scalability of BRRR

Realistic Costs associated with these strategy's

Being invested into the Canadian market and looking to expand is exciting to me. 

[Michal Liviatan Carpenter]

Hi @Levi Goulet 

I am a US loan officer based in Toronto and assisting Canadians to invest in the US.. 

Taxation- Only a CPA who understands CRA and IRS. There is no one solution for all and it is a case by case based scenario. 
It is recommended to treat a rental investment as a strict business and do the separation.. There are benefits like liability protection and expenses as a write off BUT for one property or a small portfolio I also see many who personally holding the property and guaranteeing the mortgage. I have my 3 favorite go-to cross borders CPAs I can refer you to.

Setting up a US entity is the easiest part. 5-7 business days to process and done remotely. It’s the EIN that takes time, provided by the IRS. You will need it to secure financing if an entity is your investment vehicle.  

The BRRRR method is completely doable for a foreign national investor. DSCR nature is to be more expensive than conventional loan but also accessible and fairly quick to get it done.
Feel free to dm for any questions.. There are some nuances specifically relevant to Canadians..