All Forum Posts by: Ryan Tam

Working on my first house flip and my partners have suggested that we hold our respective interests through a TIC, but not on title. Perhaps this is my ignorance showing, but is this common? I was told that this would allow for streamlined financing.

0 Votes

Quote from @Nardia Chernawsky:

Quote from @Ryan Tam:

Hello BP community!

Just wanted to say hi and introduce myself. My name's Ryan and I'm a relative newbie to real estate investing. I started down this rabbit hole recently as an opportunity presented itself to invest in multifamily housing in the US. This had previously never crossed my mind as I live in Vancouver BC and quality multifamily assets typically start at 8 figures.

Luckily, I am comfortable with numbers as I've spent over a decade as a finance professional with roles from corporate banking to being a CFO of a small aviation firm.

Would love to connect with other investors, particularly other Canadians investing in the US. Happy to help out others with due dilli to accelerate my own learning curve as well!

Hi Ryan - I’m in Vancouver, BC also. Did you ever get a meet up going with local BP peeps? I’d love to meet up on the next month or so if people are interested. I’m currently in Fraser Heights, Surrey but have rentals in the West End and out of province (and am looking to invest in the US soon).

Unfortunately not, but I'd be happy to grab a coffee to chat and perhaps get one going. Shoot me a PM and we can connect offline.

0 Votes

Quote from @Kris Mcfarlane:

@Ryan Tam

Great to connect with you, I'm out in E. Chilliwack.

I work for a Vancouver based mortgage firm that specialized in investment properties.

Also have invested in our market for 10+ years.

Let me know if I can ever help in anyway.

Cheers,

@Kris Mcfarlane Thanks - sent a DM

0 Votes

thank you!

0 Votes

Quote from @Theresa Harris:

Talk to your bank about buying a new property and moving your mortgage. If you keep it for the same amount, they know your payment history. Depending how long you've had it, the mortgage rules have changed in the last 5 years, but with 50% equity and a rental that shouldn't be a problem as long as your current income is comparable or higher than your old job.

unfortunately, my current income is not the same as my past income yet due to menagerie of reasons so this might not be feasible at the moment.

0 Votes

Quote from @George Azita:

The only way to be sure is to spend a significant amount of time and create a spreadsheet with calculations for every possible calculation and cover every option.

You claimed you have the option to keep both properties and wait until you have a better W-2 situation. So, you are not hard-pressed to sell. Without a spreadsheet, nobody can nor should give you any advice and the very last thing I would ever do is sell a property without having a seriously good reason to e.g. if I could make a significantly better profit.

As for investing in the U.S. if you remain in Canada, I am not an advocate for owning properties when I am not hands-on and cannot have 100% control of every facet because long-distance properties have many inherent risks and have many additional expenses and inefficiencies that can bankrupt you. If the real estate is not-so-bad in Canada you should stick in your own back yard (as they say).

Post your numbers and lets see what your options look like.

Noted - due dilli is underway. Just reached out to an architect to do a feasibility study on the rental proper for potential development or subdivision.

Unfortunately, prices in Canada are prohibitive in my area. I would at least have to invest in one province over which would require significant travel, putting it on the same effort level as the US. I'm also planning to work with a PE fund on an LP level to complete the first couple of deals. Which I feel mitigates the OOS risk.

0 Votes

Quote from @Elizabeth M Williams:

@Jason Shackleton I do capital raising for US commercial RE syndications, and am an SEC Registered Representative. I have a Canadian investor about to deploy into 2-3 of my deals, and he's speaking with a few cpa's to best work this out. I spoke with one of them, who was a bit on the expensive side, but what I understand so far is that rather than an LLC, it's best for Canadians to invest via setting up an LP. From a tax perspective, you won't have as many advantages as you would as a US citizen, or other foreigners, for that matter, but I've been told that the returns still make the investment worthwhile. Happy to share a few names with you if you'd like. I believe once the LP is set up, the process is the same as for other foreign investors - ITIN, local bank account. But I work in syndication, so not sure if for individual properties the same rules apply.

Hi @Elizabeth M Williams, would you be willing to share your CPA contacts? I'm looking to set up some investing infrastructure. thanks in advance!

1 Vote

thanks for the warm welcome everyone!

1 Vote

No not yet. Just getting accustomed to all the financing vehicles in the states. Will definitely look into it as it sounds like a good solution for my situation. I assume its open to foreign nationals as well?

0 Votes

Hello BP community!

2nd post (yay). Have been browsing content on here and loving the community camaraderie so far.

Wanted to share my situation and see what you guys think.

I have 2 properties: 1) primary residence; 2) rental property (former primary residence). Both properties are situated in the Greater Vancouver Area (Canada).

The market in Vancouver has been on fire, as a result, I have decent equity in both properties (over 50% on both). I want to sell my primary residence for climate reasons (no need for debate on this pt pls) as it sits in a low-lying area. My predicament is that I just became self-employed and don't have 2 yrs of income for a traditional mtg. Therefore, my options are:

a) sell my primary and move back to my rental

b) sell my primary and rent

c) sell my primary and rental and buy another home cash (not optimal)

c) don't sell and hold until I have enough provable income for a conventional mtg.

Hold on there's another kicker. My rental property is a decently sized lot that could be re-developed with a new home or potentially sub-divided (if I can convince the city to amend the "official community plan".

I'm leaning towards option "a)" as that would be the most beneficial for capital gains purposes, but sub-optimal for living standards (older house, needs updating).

On-top of all this, I would like the leverage the equity in the homes to invest in some properties in the US.

Looking forward to hearing your thoughts!

1 Vote

All Forum Posts by: Ryan Tam

Ryan Tam has started 3 posts and replied 12 times.

Post: Ownership Through TIC but not Title

Post: Hello from Vancouver!

Post: Hello from Vancouver!

Post: Canadians investing is U.S investment properties(Success stories)

Post: What would you do in my shoes?!

Post: What would you do in my shoes?!

Post: Canadians investing is U.S investment properties(Success stories)

Post: Hello from Vancouver!

Post: What would you do in my shoes?!

Post: What would you do in my shoes?!