All Forum Posts by: John Turner

Are you posting the video of the presentation anywhere for those of us too far away to attend?

@Mitch Messer

@Isabelle W.

As a foreign investor, I am actively seeking owner financing. The current exchange rate is at 30%. That's a big chunk out of any investment. I would gladly entertain an owner financing arrangement. But I need the down payment as a note from the owner and then I will get financing through TD or PML. I have already investigated my avenues and foreign investors also have to put down a bigger payment to get financing from the banks that will loan to us. I have only found 2. 

Another obstacle is the fact that the banks won't use the income from the property to qualify. So, if we go with PML to buy, there are challenges on the refinance.

Any guidance and help is appreciated.

Do owners who finance offer a long term arrangement with low down payment with an agreement that more money will be contributed when the dollar exchange becomes more reasonable? I doubt it. But that is the challenge I am finding.

We're in St. Thomas and have a duplex here and a cabin contract in NC. Presently looking for some buy and hold or vacation rental in the US. But we are waiting for the dollar to rebound before using Canadian money for purchase. I am currently searching for deals with owner financing. We will throw more money at the debt of whatever we buy after the dollar reaches $0.90 again. 

welcome @Nick Ovington

This is a great forum and there is so much information I am still finding and absorbing it all.

We bought property here in CA and then expanded to right to use contracts for a cabin in NC that have been profitable. We vacation in this area as well. Since we now know the NC area more and have made contacts there, we are looking for property there and in TN or Georgia to add to our portfolio. We used the equity in our primary residence to purchase all of the above.

With the dollar being what it is, we don't want to use Canadian funds to buy in the US but we need more property. So, we are looking at avenues for owner financing etc. We haven't found a lot of owner financing here in CA and have noted the returns are better in the states. 

Start by buying some of the books and watching webinars on here. You should decide what area you are interested in start learning about the area. Investing close to home is always preferable. It is easier to manage. But the US has some valuable options as well.

Search "Canadian" on here and you will find some posts. I would also recommend upgrading to Pro membership and adding a picture.  

And finally, financing in the US is far different from CA. There are challenges being a Canadian that do not affect US citizens. Most banks, credit unions etc won't lend to Canadians. You will find some information on the Canadians investing in the US forum. 

Try RBC US and the TD bank. Search google and call and talk to them.

Good luck and happy investing!

 @Jay Hinricha

Thanks for the input. I am looking at investment and vacation rentals. I hope to add both to my profile.

I am learning so much from here and I really appreciate the input from a long term investor such as yourself. There are so many pitfalls being an out of state investor. I'm still reading books and learning from people on BP.  I have already learned that taking good advice to heart and making good connections with the right people are as important as finding the right deal.

 Thanks for your advise as well @Chad Urbshott. I have been researching financing since May of this year and Canadians definitely have some challenges. TD and RBC do financing in the states with a reasonable rate and 20 to 25 % down depending on the use of the property. TD does not have a minimum loan amount. 

 Thanks for the advise @Mike D'Arrigo. It is a duplex. 

yes

anybody?  Buehler?

any help or direction out there?