All Forum Posts by: Larry Smet

Thanks for everyone's interest.  Despite it being close to Christmas (and winter in full swing) it looks like we should have at least 6 investors getting together tomorrow.  The reservation is under "Larry".

@Linda Labbe, I left you a PM and voicemail - hopefully you'll be able to make it out but either way please drop me a line.  

@Jim Chuong, I plan to host this event on the second Wednesday of every month - hopefully you'll be able to make it in January.

We'd love to hear what you're both doing.

Happy Holidays everyone!

Hi @Jim Chuong - that's impressive, thanks for sharing that!  Will you be able to make it out to the meetup on Wednesday?  So far we have a good core group of experienced investors saying they're coming (about half a dozen so far - with a lot of others giving their regrets because it's getting close to Christmas).  Hope to see you there.

Hi @Linda Labbe - thanks for your interest, I'll PM you.

This meetup is a networking event for anyone living in (or visiting!) Toronto who invests in real estate anywhere in the US. I plan this to be a regular event, on the second Wednesday of every month.  There are no plans for pitching or selling, just a venue to share experiences and resources for those of us actively investing in the US.  Anyone interested in learning more about investing in US real estate is also welcome, of course.

I expect it will go from 6 until whenever (9ish?).  The location was chosen to be easily accessed from the subway (it's just a few minutes walk from Sheppard subway stop) and close proximity to the 401.

Please confirm by responding to this post or PMing me so I can confirm with the establishment how many people would be expected.  I don't have any ties to the establishment but they are running a business so I would hope that everyone showing up will show their appreciation by ordering something other than water!  :)

From my connections with other Canadian investors (in the US) I know there are already several experienced investors planning to attend - will you?

Thanks

Larry

PS - A little bit about me:  I've been investing in US real estate since 2012, primarily via flipping in Chicago (and one flip in Orlando).  I currently have 3 active flips in Chicago and also hold a duplex rental there.  I think networking is a great way to learn from others' experiences and make new business connections.  I hope to see you there!

Hey @Oren K.

How about finding funding partners willing to hold a note and take a percentage on their money?  For a stabilized cash flowing building that you have a track record on that might be a way to pull your money out and still retain ownership / cash flow.

Ha ha! Yeah, we'll never live that one down!  I guess we're just spoiled in the big smoke.  =) 

Thanks @Roy N.

I think Gary's meet-up is in Newmarket, so not that convenient for people in Toronto to get to and I believe (hopefully Gary will correct me if I'm wrong - I can't tag him because he hasn't responded to this thread) that his meet-up focuses on Canadian REI. I'm proposing to have a meet-up in Toronto dedicated to US REI (for Canadians).

Hi @Suzanne P.

Welcome to biggerpockets!  As you can see there's lots of active investors everywhere on BP.  I've been flipping in the States for several years now and also live in Toronto.  It would be great to hear about your experiences.  Send me a PM if you'd be interested in chatting. 

I also plan to set up a regular meet up for Toronto folks who are interested in sharing info (or learning) about investing in the US.  I was thinking of making it near Yonge & Sheppard (so it would be subway accessible and close to the 401) starting in early December so I'll be sure to send you an invite when I get that set up.

Regards

Larry

If you decide to set up an entity I'd encourage you to get an attorney who specializes in entity creation to put it together for you.  Before you do that you'll also want to consult with a cross-border accountant to make sure you consider the various tax angles that would apply to you (everyone's situation, goals and business plan is different).  PM me if you want to know who I use.

Hi @Thiru Subra

Yes, we Canadians can absolutely invest in US real estate - I've been doing it since 2012 and know a lot of Canadian investors operating in the US market.  I plan to set up a regular Toronto meet up for Canadians investing (or interested in investing) in the US.  Hopefully you'll be able to attend.  I've been on the road for the last couple weeks looking at opportunities in Indiana and checking on my Chicago projects but plan to set the meet up when I get back next week.  Stay tuned!

Feel free to PM if you would like to set up a time to chat.