Ottawa, Ontario · Member since 2016 · 42 posts · 13 votes
Hey there fellow BP friends,
I was wondering if anyone can recommend me some good books on US real estate investing for us Canadians. I realize there are many tax implications and rules so I want to get the straight facts and strategies to avoid any costly pitfalls that may occur. I've heard many horror stories.
Dino
When I was a kid I used to tell my mom "why should I read the book when I could watch the movie?" I don't believe that at all now of course but in your case tax code is complex and I'm sure you could find some extremely dry book to read on it I would start with a qualified cap who understand international tax law.
I have worked with a large number of international investors and I just so happen to have that cpa. Start there and learn what you need to from her , you can verify it all with a boring book, and use the rest of your time focused on finding deals :)
Cheers!
I was wondering if anyone can recommend me some good books on US real estate investing for us Canadians. I realize there are many tax implications and rules so I want to get the straight facts and strategies to avoid any costly pitfalls that may occur. I've heard many horror stories.
Much appreciated!
@Tyler Bruce he is also in Canada and invest at home. How ever he did come meet in Charlotte and look around the USA. Speak to investors locally instead of reading books. Ask any local folks he good the bad and the ugly of investing in the USA
The offers of assistance will be stacking up quickly.
There are a few "primers" on the subject - other than the "dry" CRA bulletins - you can read yourself. The one which I seem to see recommended the most is
Walters, Dale - "Buying Real Estate in the US: The Concise Guide for Canadians,"
There is a similar volume from Don Campbell's RIEN machine:
Dolan, Richard & Campbell, Don - "Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians"
(I'm not a fan of Mr. Cambell's machine and have not personally read this book).
Either of these books should provide you with a sufficient base to be able to formulate appropriate questions when you find an accountant and attorney with cross boarder business and real estate experience.
Note that you are more likely to find these resources in Canada, with a good understanding of taxation considerations (business structure, etc) in both countries, than you are south of the 49th.
Thanks a lot @Roy N. for the book titles and information, I really appreciate it! I really want to dive into this but I want to make extra sure that I don't get in trouble with the taxman!