All Forum Posts by: Jason Shackleton

@Josh Gardere It would actually be comparable but yes slightly more expensive. However you would build business credit at the same time. Both are viable options. 

Hey @Josh Gardere If you can you are likley best to keep this borrowing in your entity for tax time. If the property is owned in an entity you should be looking for options leveraged off your business credit (likely need to co-sign with your personal credit however)

Good Luck!

Jason 

Hi @Tyler Adams

The ultimate wealth strategy is written by Canadians. It essentially is a book about the BRRRR strategy. It simply has a different name in this book.

Income for life for Canadians by Nick Karadza, Rob Minton, and Tom Karadza.

Money People Deal by Stefan AArnio.  Canadian Author. Talks about creative financing

The Armchair Real Estate Millionaire by Michael Dominguez a Canadian Author. It mentions house hacking (I appear in this book as one of the many success stories!)

Good Luck!

For those of you that are investing in U.S property as a  foreign investor what U.S based bank account are you using? Please specify the country you are investing from so that others from your country can follow your strategy. 

Thanks! 

Jason,

@Dave Foster Is the 1031 Exchange master!

Amazing Work @Ryan Corcoran I love that this was done with only 5k of your own cash invested!

Hey @Ryan Shannon 

When it comes to 1031 exchanges @Dave Foster is the master!

Hi @John Sioukas

I am a fellow Canadian. I know you asked for help with wholesaling in the U.S. I can not help you there. I can connect you to a good cross border real estate lawyer. I can also connect you to someone who can help you close on a deal in case you can not assign it in time. You will want to have that ability.

All the best!

You will want to take professional pictures of the property before the tenant moves in. Then hand these pictures to the appraiser. You want to have the property rented for max value for the appraisal. The lender will also want to see that the property is rented. Provide the updated rental amounts to the appraiser. Also have your realtor pull comps in the area. Give these three items, pictures, rental amounts/leases and comps to the appraiser in a package. This will help you get a higher than average appraisal. 

Good Luck!

Hi Elizabeth, thank you for such a detailed response. Yes I have heard of the possible double taxation if a Canadian has a LLC opposed to an entity such as an LP. I do have a connection that I send clients to for proper entity formation. She owns a law firm and is a cross border specialist. I am looking for a connection that can help with the accounting side. I have lots of lender connections for foreign investors however I am always looking for more. Your syndication may be the perfect fit for a Canadian borrower that does not qualify for a loan or doesn't want to be involved with property management. I am always happy to grow my network. Thanks