All Forum Posts by: Jonathan Leblond

Thanks but LLC alone isn't good for Canadians. Double taxation for us. Thanks for your answer

Thanks for your help. He gave me a lot of good information that will guide us in our decision. In 15 minutes he was able to give me a good idea of what the options are and of what it could cost. It was clear and I'll keep and share his contact with people who need an effective CPA.

@Alice Huang Try to find a partner who could help. It would be better than doing nothing. It would get you started. Seller financing could probably be an option but if you don't have any money it will be more complicated for the rehab part (hard money could help for a few months) good luck.

@Derrick E. If you ever have more ideas like that feel free to share!! ;) The more tools we have to become good landlords the happier our tenants will be and longer they will stay. As you said it might not work in every situation and for everyone but the feeling you probably got when you were able to help those people being creative was probably awesome. Thanks for sharing.

Thanks to both of you. I will get in touch for sure.

Thanks for your answer. Those good CPA are hard to find. They want to charge before they tell you if they can make it and how it could cost. I read about the LP and GP and it is indeed a possible avenue. I'll keep looking for a good referral. Thanks again. 

When someone ask: ‘’How do I start investing in real estate?’’ You should hear: ‘’What should I do before I start investing in real estate in 2020?’’ 

With all the tools available today, here is a list (not absolute) of what you could do. Let me know what you think!

1. Read RDPD (great mindset book). If you are not convinced after that, real estate may not be for you.

2. Listen to different BP podcast about every possible real estate niche in order to get knowledge. Most of them are covered in the first 160 episodes.

3. Listen to all the mindset and business book related in the BP podcast. Many are in the first 160 episodes.

4. Choose your niche and get a few books to summarize everything you listened to: 1. Rental property (or Flip or BRRRR or Note or Rehab or Hacking or Long-distance, depending on your interest), 2. No and low money down, 3. Managing rental properties, 4. Tax strategies. They're all on BP bookstore. The other books can wait. Many are great but all you need to start investing is in those books.

5. Ask questions on BP forums

6. Define your goals

7. Choose your area

8. Search for deal and use the calculator to evaluate a few deals to get accustomed

9. Set your legal entity

10. Find a cure for analysis paralysis. You’ve studied enough, now do it. You’ll have plenty of time later to complete your education. The only way to get better is by doing it. There is always something to learn or a better way to do things. This learning journey will never end. If you created your luck, you may even have found a mentor or a partner through all those steps to help you start your new life.

Have fun

Hi,

I found a lot of good information on the website concerning the setup of a Canadian and US partnership. Depending on many factors the answer is not straightforward. I’m Canadian and I’m setting a buy and hold business in Albany, NY with an American partner. Here are the concerns I have:

1. Liability

2. Flow-Through

3. Estate tax

I need someone with good knowledge who could orientate my search of the right person who could help me to set up the entity I need. I’m a big fan of Amanda Han and Matthew MacFarland but I doubt they have time to set a startup business like mine. Should I look on the US or Canadian side? Should I look for a CPA first or a Lawyer? Finally, I’m not sure this post belongs here! Should I post it on marketplace?

Thanks all for your help

Hi, my name is John and I’m a Canadian investor interested in buy and hold in Albany, NY. I’m new to BP and I found a lot of great information on your site. My profile isn’t completed yet and I’m working many hours a day to set up the business properly. I wanted everything to be done right before I jump into the BP website, but I feel like I’m missing a lot everyday by not posting all the questions that I have!! It is indeed impressive to enter this huge gathering of all my Podcast Idols. I’m sure I will survive that first post and eventually get better at it. See you on the forums and please apologize for my writing! My English is sadly not perfect since I’m French Canadian! It will get better in time! Keep your good work BP.