All Forum Posts by: Matthew Purvis

@Jason Shackleton my property was In Peterborough, ON. The market is screaming for rental properties. All that said. I sold the property for $149k over asking.

I have sold my rental property in Canada. I will be having a capital gains on the sell. I will be paying and filing Canadian taxes. I have been trying to contact a CPA to see what steps I need to do in the US for taxes down here. If I do need to pay taxes on the capital gains down here, I was wondering if anyone had suggestions so that I could keep as much in my pocket or differ the taxes.

@Christopher Smith

I would be transferring money from Canada to the US. The Canadian dollars is only worth 84 cents US.

The US dollar is worth more in Canada. The Canadian dollar is not worth as much in the US.

Hello BP,

I am looking for advise.

I am in the process of listing my investment property in Canada for sale. I will be making a profit on it and I am looking to keep as much of the profit as possible. Of course the property will be sold in Canadian dollar and as of today the exchange rate is $1 US = $1.16 Canadian. So right off the bat I will be losing 16 cents on the dollar when I bring the money south of the boarder. I will also be paying Canadian taxes on the property when sold and filling Canadian taxes for 2021.

My question is how much will Uncle Sam want of the profit? Is there a way to not lose a bunch of money in taxes?

Thank you for the insight,

Matt

Thank you Nathan G. and Rachel H. for responding. I do remember visiting mobile homes parties in college. I think it would be a good investment but like Nathan stated the stigma of living in a mobile home is real one. I appreciate the feed back. I will do a little more research.

Thank you again.

I am looking to purchase a newly remodeled 2bed 2bath double wide with high end finishes. The purchase price is $120k. I wanted to get some feed back on the rental possibility. I know the area really well and know single family homes in the area are renting for $1500-$2200 for a 2bed 2bath. The double wide is less then a mile from a major highway. 3 miles from a major university. I have family and friends that live close and I travel to the area yearly. So operating cost will be fairly low.

I have no clue what a double wide could rent for and if this would be a good investment for passive income.

Any thoughts?

Thank you,

Matt