Returning member from Langley BC

[Brian Hosier]

Hi all, I'm actually a member who has been here for 2 years but really didn't do anything since then so I'm trying to jump back in with both feet! BP is the best resource on the web for RE investors bar none and I just realized that the community here is fantastic! I originally started invested in the mid 1980s (yes, I'm a kid in my fifties!) and held about 10 doors before the real estate crash in 1987. I have hailed from British Columbia for the past 20 years but looking to invest in Ontario and Ohio. I currently own 1 duplex in Cleveland but it is not rent ready. I know there's a lot of interesting and experienced investors in Ohio and I hope to connect with you via BP. If there are any Canadian investors with holdings in the US I would be interested in finding out what entities you are using. I have been told that Limited Partnerships are much better than LLCs due to the tax treatment. I am an avid reader, podcast listener, and love to consume all things Real Estate! If you have any podcasts or books you would recommend please let me know. I have read 2 of Brandon's books, all of the Rich Dad series, and probably 10 other RE books. I attended my first webinar last Wednesday with @brandon-turner and was so blown away that I immediately converted my membership to Pro. Brandon thanks for the awesome work you do on the podcasts! I am back to BP to give as much as I can, connect with some awesome people, and hopefully learn a little along the way!

[Matthew King]

Hi @Brian Hosier, welcome back to the business! I have helped several Canadian owners buy and sell multi family buildings in the Cleveland area. I have observed that if there is more than one owner in the deal, it is purchased in an LP. If a single investor is purchasing or if it is financed (either with financing secured in Canada or the US), it is purchased using an LLC. I am not an attorney, nor an accountant and can't speak upon its positives vs. negatives, although I have my suspicions. Just an observation. Good luck!