All Forum Posts by: Jagjit Singh

Hello,

I'm from Toronto, ON (Canada) and I'm currently trying to understand what the tax implications would be if I were to invest in US multifamily (3-6 units) real estate. How will the capital gains and rental income be taxed (not just by US, but by Canada as well)?

I would also like to know what effect business structures have on taxation (LLC/ LLP/ LP). Apparently double taxation is one of the biggest hurdles for cross border investing.

I would really appreciate some sound advice about this, and if anyone knows someone who specializes in US-CAN cross border tax laws, please let me know.

A big big thanks in advance. (I find BP to be the most helpful community on the internet)

Hey Ned!

Thanks so much for a detailed response. 

Yes absolutely to start off I am looking at 2-4 unit multifamily properties.

The part where you mentioned about going out into the market and not just sitting behind a computer screen, that's one of the biggest things that has kept me from making any significant moves so far.

The first thing I want to learn is how an investor analyses a property (not only using numbers, but qualitatively), and I think going out and looking at real deals and talking to investors is the way forward.

Thanks a lot for your response. I'll stay in touch.

Hello!

I'm all in but I must admit the whole game does feel a little intimidating, anytime I think I like a property and I think of calling the realtor, I start having self-doubt (that maybe I'm missing something and I'll come off completely stupid).

I would like to ask the seasoned investors, how was your experience with your first deal? What problems did you face? And what were the things you thought would be very difficult but turned out to be straight-forward later on? And what were the things that you highly underestimated?

Also, what are the most important metrics you go through during the initial screening of a listing? (to decide whether you want to analyze the property further or not)

 Hey Stephanie,

Fellow Torontonian here, I'm looking into the New York market as well, to invest in small multi-families. Would like to chat with you if you have some time to spare.

Hey Alex,

My name is Jagjit, and just like you I'm new to both RE investing and Biggerpockets.

My plan is to start with multifamilies and I've talked to a couple of RE agents so far, and the conclusion I have is, in this high Interest rate market, its very difficult to find a cash-flow positive deal. 

But I'm going to stay firm on my goal of investing in multifamilies.

Please let me know if you would like to connect and explore, and possibly partner together in the future.

PS: I'm also based in Toronto.