All Forum Posts by: Brad Friesen

Hi Brian,

What size multi-family property are you interested in buying? A good strategy for you may be to purchase a smaller multi-family property (i.e., duplex, tripex, etc) and live in one of the units. Then collect rent from the other units. You would also only need to worry about one mortgage payment, one roof, etc. Plus you wouldn't have to pay HOA fees.

Brad

Great advice Robert. We have some condos in Las Vegas that we plan on selling real soon. We should talk sometime.

Dale's book is an excellent resource for any Canadian buying US real estate. If you don't have it, do yourself a favor and pick up a copy.

Brad

Greetings from Manitoba!

Hi Leslie,

I have done quite a few different JV deals with other Canadians buying US real estate, and each deal is setup different depending on the deal and the partners who I am working with.

You definitely need to talk to a CPA before doing anything in the US. Are you aware of FAPI and FIRPTA? If you are flipping properties, as a foreign investor 30% of the sale can be withheld by the IRS! So sit down with your CPA and figure out the best way to structure your deals with your investors and also the best entity structure for yourself. With the LLLP, each of your investors will be required to obtain ITINs and file a US tax return.

Also, LLCs are treated differently in Canada than in the US and are generally not recommended for Canadians buying US real estate. Canada doesn't recognize LLCs as flow through entities or partnerships. Instead it recognizes them and treats them as corporations, where you then run into double taxation.

Pretty cool feature! I'm sure this will get people more active on the forums.

Hi Michael. Welcome to the site. I'm also a Canadian, from Winnipeg though. We own properties in Vegas, Arizona, Florida, and Atlanta. Feel free to send me a message sometime.

I also saw this one. Looks like an interesting play. Found an old thread online about the place. Sounds like it has some history.

Brad

I'm also guilty of not participating much on here. I try not to spend too much time per day on social media, but this site is definitely one of the best sites we could belong to.