Hi everyone. My name is James. Besides our home , I own a condominium and some property with other investors. I have done the Rookie Boot Camp which was very beneficial to me and I am now doing the Multi Family Boot Camp.
I was interested in buying some US property in Tennessee, Ohio & Florida. I was looking to Rent to Retirement and another similar company.
However, liability issues came up about a Canadian owning US property outside of an LLC , but also the heavy taxation of an LLC for a Canadian. There is a solution for Canadians, from NCH out of Nevada to use a regular corporation to hold limited partnerships. Apparently, there are other strategies I don't know about yet.
The issue with high interest rates is they are even higher for foreign investors. Therefore , the down payment amount has to be higher so the property cash flows to break even.
I also would like to take advantage of Vendor Takebacks or other forms of using other peoples’ money. The process continues.
Best wishes to Everyone.
