All Forum Posts by: Jamella Hagen

Thank you, Kislay. I agree that due to the complexity, I think I'll need to consult with an accountant who specializes in cross-border tax situations. Thanks for the ideas on where to look for lists of qualified people. And I'll also take a look at those expat forums you mention to educate myself a bit more before reaching out to the accountant. The picture is coming clearer already, and it does look complex. It looks like first there is a Canadian obligation to file, and then an American one. There is also complexity around the fact that at one time, it was a principal residence, which the CRA will recognize for a partial capital gains exemption if we can find documentation of the value at the point at which he stopped living there. Thanks again! 

Yes, thank you. That's a good point, I should call CRA to ask them about the situation. I have spoken to my accountant, and she has told me some things from the Canadian side, but I am having a harder time finding information on the American obligations. It now looks to me like a with-holding tax from Canada might actually trump capital gains in either country for this situation, and might end up being about 25% of the value. I'll keep digging. Thanks for the suggestion to call CRA. 

And to answer your other questions, the house has sat vacant for 20 years, after he lived there for about 20 years before that. It was not rented. I believe he filed taxes in Canadam until he moved back to the US, but then switched to only filing in the US. 

Hello Bigger Pockets,

I'm hoping someone will have some expertise to share. I'm trying to help my Dad (who is a dual US/Canadian citizen living in the US) sell a property that is located in Canada. It appears to me from a quick glance at the tax websites that since my dad earns less than 44,000 in pension, he shouldn't need to pay capital gains on the property in the US after selling it in Canada, but I'd like to do a deeper dive to find out if this is in fact the case. He has owned the property for many years, and at one time it was his principal residence, but it isn't anymore. Does anyone have expertise to share about this situation, or know of places I should look for information? I'd be interested also in talking to an accountant who is an expert on cross-border taxes, if folks have recommendations for someone who is reputable and has that expertise, and who works with middle-class individuals (as opposed to wealthy families or businesses). Thank you in advance if anyone has information to share that might be helpful to this situation. 

Hi everyone, it’s true that this new student population has grown significantly. It might be worth mentioning, though, that there was a blip in 2017-18, with a sudden change to student visa granting rates (if I have my terms right) meaning schools across Canada received approximately 2-4 times as many students from India as they were expecting that year. This fall, the new student numbers are back to normal at many institutions. Student housing is probably still a sound investment, just don’t expect the dramatic increases seen last year in students from India to happen every year. 

Thanks! 

Thanks! Much appreciated

Hi Folks, just wanted to say hello and follow this discussion. I’m all the way in Whitehorse, Yukon, but am considering investing elsewhere in Canada in buy-and-hold rental properties, and am hoping to check out Nova Scotia this summer on a family cross-Canada road trip. Good luck to you Maritime investors! 

Hello, everyone. I live in Whitehorse, Yukon, and I’d like to invest in buy-and-hold rental properties in Canada. I own a half-duplex that I live in, but for investment purposes, my home city is too expensive for rental properties to have a good cap rate, so I’m looking to buy elsewhere in Canada. I’m early in the research phase but if other Canadian investors are open to sharing areas they’ve had success in, I’d love to hear about it! 

I’ve just read the bigger pockets book Long Distance Real Estate Investing by David Greene alongside Making Money in Real Estate: The Canadian Guide to Investing in Residential Property, and I’ve begun to dig in to CMHC data, and I’d be interested in hearing from fellow investors with...boots on the ground? Skin in the game? Other people with similar interests is really what I mean. It would be nice to share ideas.

A few more specifics: 

- I’m interested in single-family or small multi-family dwellings in A or B zones

- The closer to the West Coast the better, but that said, I’d be willing to go all the way to Nova Scotia if that’s where the math works best...ideally I’d like to follow the one percent rule 

- Random detail: I’m actually a poet looking to support my writing habit through sound investing. I’m a writer who likes math :) 

If you’re a Canadian buy-and-hold investor, where are you buying properties? Where would you recommend to others? 

Northwest BC or Northeast? I haven’t built there but I think in Northwest BC you’ll be pleasantly surprised that building is less expensive than in some other places (lots of wood, local builders available). I would agree with suggestions to insulate to above code. In rural areas, codes will probably lag behind your own due diligence in a few ways. Wood heat is probably your best value for when you are there. If you can afford it, metal roof will last well, won’t catch fire, great with snow.