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All Forum Posts by: Sam Su

Sam Su has started 1 posts and replied 11 times.

Canadian Real Estate

Post: Buying all cash US foreclosures as a Canadian

Sam SuPosted
  • Investor
  • Vancouver, BC
  • Posts 11
  • Votes 4
Quote from @Roy Cleeves:

@Gurjot Grewal

I bought three homes in the USA - one each year of 2009, 2010 and 2011.  Each was approximately $80,000.  I sold one of them last year for $200,000.   It was good for cash flow while I owned it yet the price did not go nearly as high as what I owned here in Kitchener, Ontario.

These homes are in Davenport, Florida - 10 minutes to Disney World.   The Government in the USA keeps a percentage of any sale and any rent - the accountant will verify the exact amounts for you.

Best Wishes


Hello Roy, 

If you don't mind, can I ask a question? For the properties you still hold in the US, did you refinance them and take out the equity? I have bought a rental property in US too in 2012, still holding it. The house has quite a lot equity in it now. However, I could not find a bank in the US to let me refinance it because I am not in the US. Same here in Canada, the banks also can't do refinancing for US property. I still don't want to sell it now since I need to pay a lot of tax on it. Thanks a lot in advance!

0 Votes