All Forum Posts by: Myo Thein

Bill, that's very true.  But after paying a hefty Canadian tax (29% + additional 45% surtax for non-resident on the tax owing -- so roughly 35%), I think you might as well claim foreign tax to Uncle Sam (worse case less than 30% for long term gain) at the same time.  I personally see no value in paying Canadian tax than claiming 1031 exchange in US.  Maybe I might be missing something.  But again, I am by no mean tax professional.  Speaking from my own experience as selling my Vancouver property while I am non-residence of Canada.

@John Lusk, I find more luck finding qualified tax professional in Canada side than US.  Unfortunately, I don't know anyone locally in Kelowna.  It definitely is attractive investing in Canada due to exchange rate, but be sure you understand tax consequences since taxation on the gain can be heavy for non-resident, as well as, no option like 1031 Exchange in US.  I used to live in Vancouver and now I live in California, and I am moving my investments with me to US primarily for tax friendly reason (and maybe easier to find deals too).  Best of Luck!

Thanks all for replying with interesting feedback.  In case you are wondering, I decided to sell due to my concern with house prices in Vancouver became a few multiplier of median income from the families living there.  SF / bay area prices are high but still multiplier from median income is lower than Vancouver.  Who knows I am right or wrong only time will tell.  But at this point, I am okay with moving my investment to a bit more conservative market where I can have cashflow to weather out down run if any.

As former residence of BC and current residence in California, I just sold my townhouse in Vancouver.  This is just from my personal experience with talking to tax accountant there, you will be subject to regular capital gain tax, I think it is about 20%, and since you are living in US, you also need to pay tax to Uncle Sam.  Due to the treaty, you will get the tax credit you pay to CRA.  For US, you pay capital gain tax 15% (could vary based on your bracket) + 9-10% to California + 3.8% (if you are subject to Obama care tax).  Basically your US tax bill will be higher than CRA for most case.

Looking forward to the meet up today.  I'll probably swing by early like 6 - 6:30 in case there are people coming early.

Did you manage to find a decent one?  I am in the same boat as you.

This is the meet up tomorrow: http://www.meetup.com/SF-Bay-Area-Real-Estate-Investing-Club/events/228601215/?fromEmail=228601215&rv=md1

@Andrew Wong @Garrett Mayo @Jason Clark @Susie C. Looks like our coffee meet up hasn't happened yet.  But there is local BP meetup happening tomorrow evening at 7.  Are any of you interested in meeting up before the meet up and talk about Fresno?  I drove down to Fresno couple of weeks ago and took a look at a few of the 4-plex and 8-plex.  I am planning to make a move there sometime this year, but would like to learn and share what I know.

@Phat Vi here is the thread I was talking about investors with Fresno interest or experience.  

@Andrew Wong, Phat might be interested in meeting up for coffee too.

Great.  I'll try to be there, as usual I'll try to come in early like 6.