All Forum Posts by: Peter Jung

I would be really intetested in knowing this too!!

Hello, I am just doing some research and homework and crossing things out on my list of things to do.

2 questions in my mind and which still I haven't found answer to

1. which legal entity is the best for me to enter the market?

I have met up with various accounting firms (which are not specifically cross boarder specialist since it seems to me its hard to find them in Edmonton, AB, and I assume they are going to charge me tremendous amount of money for consultation and filings) when I talked to the partners at these firms, they all gave me different opinions. Some say I am better off with buying properties under my name directly, some say LP with Canadian corporation which I own, some say LP partnering directly with me. So I don't know what I should be doing as I am given so many options.

2. What is the smarter way of getting financing done? I know RBC offers mortgage throughout all states with reasonable mortgage rate. TD offers mortage in the east side of the States. I wonder why not many Canadians are not taking this opportunity but rather go with private lenders in states with 3~4% higher interest rate

Here is my situation

I am looking to buy and hold SFH, MFH (duplex~fourplex) and I am looking for cashflow with good NOI and COC return which kind of gives me insight to invest in Midwest (Kensas city, Indianapolis) and Texas (Houston, Dallas). I am willing to purchase multiple properties up to 3~4 right now, if there are good opportunities. I am looking to buy 2~3 properties per year using conventional financing way (25% down and 75% OPM ie. bank or private lender) and I will be keep doing this until I become financially free.

Thanks guys

I will work towards to get my first deal done soon. Just trying to figure out how to borrow money from bank and other possible cash lenders and trying to find somebody who is familiar with cross border laws.

Hello

My name is Peter from Edmonton AB in Canada

Here in Edmonton, it is snowing hard and weather is just getting colder day by day.

I am a recent graduate from University of Alberta and currently working as a full time pharmacist. It pays my bill but I feel very insecure about my future and I would like to retire as soon as possible so I can spend more time with my family and friends.

My goal is to gain financial freedom through real estate investment but it seems like the numbers don't look so promising up in north here in Canada.

So I was doing some research and it seems like there are more opportunities down in States.

I have gone through many blog posts and podcasts and realized it is time for me to now establish good relationship with fellow biggerpockers in this website.

I am looking to invest wherever positive cashflow can be generated.

Atlanta, Kensas city, Texas, Indianapolis seems like the area of my interests.

To my knowledge, I think I would have to get connections with attorneys and accountants that are professionals in cross border laws.

Obviously, I am going to be in need of good property management team as well as good realtors who can be my eyes and ears in the future when I start investing.

Also, getting mortage approved as a Canadian investor is hard so I need to pick your brain in terms of how I can borrow money for my future properties

If you guys could provide me some good detailed information about what I am looking for that will be very much helpful

Thank you!