Buying all cash US foreclosures as a Canadian

[Gurjot Grewal]

The market I had chose to invest in Canada (around halifax) is seeing a bit of a shift. With rates continuing to go up and putting downward pressure on this market, I do not want to rush into a deal unless it absolutely makes sense. In the meantime I have been looking at foreclosure listings in a few states and it seems like you can get some great deals with all cash. Realistically I could put around 100k into the deal all cash. My thought process is this, buy an SFH 80k, reno hold, and rent. When the rates start to shift (my guess in a few years) refinance and reinvest.

Does anyone on here have any experience or insight on this route? 

I do understand I may have to set up a corporate structure for tax/legal purposes. The next step would be to talk to a cross border accountant and lawyer. But would Love to here anyones experience doing this, if its even possible. 

[Roy Cleeves]

@Gurjot Grewal

I bought three homes in the USA - one each year of 2009, 2010 and 2011.  Each was approximately $80,000.  I sold one of them last year for $200,000.   It was good for cash flow while I owned it yet the price did not go nearly as high as what I owned here in Kitchener, Ontario.

These homes are in Davenport, Florida - 10 minutes to Disney World.   The Government in the USA keeps a percentage of any sale and any rent - the accountant will verify the exact amounts for you.

Best Wishes