Owning Real Estate in Vancouver as a US Citizen

[Jackie Lin]

Hello! 

My parents have an apartment in Vancouver that they are debating whether to sell it or pass it onto their kids. With the recent tax law changes in capitol gains taxes in Canada and this property not being their primary residence. Does anyone have thoughts on what the best course of action might be from an investors' standpoint. 

I currently manage a long term rental and working on a single family home fixer (will probably convert to rental in the future) in Cali. I'm excited about the potential of owning property outside the states, but don't know some of things I should consider versus owning real estate domestically. 

Any info and help would be greatly appreciated. Thank you! 

[Hai Loc]

Quote from @Jackie Lin:

@Cedric Ferrell appreciate the response. Considering that my parents and I are not Canadian citizens it adds an additional wrinkle to things as they or I are not able to claim this as the primary residence and avoid the capitol gains tax... a lot to consider and think about. Thanks! 

 you need to dodge capital gains and foreign buyer tax.. you should consult a tax expert..

If I was in this situation I would just sell (not advice) and buy a cash flowing mobile home park in the midwest