Any Canadians own rentals in the U.S.? What's been your experience?

[Ken T.]

Just wondering if there are Canadian REI's here that own rental property in the states? Would you recommend this route? What has been your experience?

[Tom Yung]

@Ken T.

There are lots of Canadians investing in US.

I am from Winnipeg, Manitoba.

Few things that you may want to know before hand.

1) know your tax(both US & CDN) situation, so you can set up the right entity to avoid double taxation & asset protection.

2) have a strong team( contractor, property manager,RE lawyer, RE agents..) on ground.

3) set up proper banking for the ease of future banking transactions.

4) choose your market; really understand your market.

5) know the state/city law that you're going to invest in.

6) make connection with local investors (BP is an excellent source for connection & resources.)

What I find out.

Price of most Canada RE is priced a lot higher than some states for the past 4-5 years. So the return in much higher.

It's not as easy as you deal within your backyard, it's a long distance investment.

Also you are learning a totally new market, so you have to adapt to the local pricing & thinking.

The principle of investment are the same though.

I enjoyed it myself, it's a challenge.