All Forum Posts by: Tuan Hoang

Hey everyone,

I am a high income W2 health care provider. Taxes were never the main reason I wanted to get into real estate, however I took a 30min coaching call during the lockdown to discuss strategies and the person I discussed with recommended I look at my investing from a different perspective. This coach recommended that I not concern myself as much with cashflow, but instead invest in more expensive properties and use depreciation/write offs to offset my W2 income. I quickly found out that it is a terrible strategy (not concern yourself with cashflow) and now just recently found out it isn't even possible to use passive losses against my active income and was quite disappointed. 

I was wondering if investing in actual properties would help me from a tax standpoint other than provide potentially tax free rental income? (I cannot qualify for REPS under my current circumstances) I know this is more of a personal decision/preference and I know that there other advantages to investing in real estate, however if tax free supplemental income is the main benefit, I may instead look to focus more on syndications and not take on the headaches and massive time requirement of owning rental properties.

Thanks for the input!

I’ll look into consulting with a CPA that understands taxation in both countries. I guess it’s something to keep in mind if I decide to go back to Canada.

I’ve been residing in the US for the past 9yrs and have strictly paid taxes to the US government since I have nothing tying me to Canada.

Thanks for the feedback! For tax purposes, I am considered American. I haven't declared or paid any taxes to the Canadian government since moving to the US 9 years ago. I could be wrong, but I don't foresee any issues on that regard.

Hi all,

I’ve been trying to read and learn as much as I can over the last 9-12mos or so, especially during this quarantine. I have invested on some crowdfunding websites and directly into syndications, however I am looking to try my hand at investing directly in some rental properties.

I am a Canadian on a TN Visa. For the past week I've been trying to figure out if I am allowed to start an LLC for asset protection and have gotten some conflicting answers from several different lawyers. I've also posted my question on a few immigration forums/fb groups but have yet to find a clear cut answer.

I have pieced together that I can form an LLC, however I cannot work or receive a salary from that LLC. Receiving passive rental income would not constitute work, however I am trying to determine whether everything else involved in REI would constitute "unauthorized employment", ie hiring property managers, contractors, and the rest of my team, marketing, etc.

I would love to hear back from any Canadian that is in the same situation as I am currently or anyone knowledgeable with these immigration issues.

I am a high income (in non covid times) health care provider. I have only graduated less than 3yrs ago, so although I don’t have a huge amount of assets, it’s still in the 6 figures.

My other question to everyone else is if the LLC is not possible, should I just pursue REI while ensuring that I have excellent insurance coverage + umbrella policy. Brandon had a video stating LLC is not necessary especially when starting out, but others affirm that it is a "must". Would having good insurance be sufficient for someone in my position or should I just consider continuing with more passive forms of REI like syndications/funds/crownfunds?

Hi everyone,

New at Biggerpockets and to the world of real estate investing. Thought I would introduce myself and get some advice from people on the forum!

I am a health care provider (surgeon) and have been working for the past 2 years making a very good living for myself. I have been mostly investing my money in the stock market, but have been looking at alternative investments to diversify my portfolio. I have always been curious/interested about real estate, but have just started looking more into it for the past month or two. I am trying to learn as much as possible through books, podcasts, blogs, youtube vids. I must admit that I am feeling a bit overwhelmed as I am a complete newbie.

I do have a tendency to suffer from analysis paralysis, at the same time I can have moments where I am a bit impulsive, so I don't want to jump in too quickly. I have a very busy schedule and make a good living, so I don't intend on changing careers anytime soon, but could see myself cut down my hours significantly down the road if I find good success with real estate investing. My goal is to add more sources of supplemental income and reach financial independence sooner.

For the time being, while I am still learning, I would opt for a more passive investing strategy. I'd love to hear your thoughts on whether you guys suggest I look into investing into syndications, turnkey properties, crowdfunding, P2P lending? I have reached out to a turnkey provider and have had one initial talk. I understand that my return won't be as good as if I were to do everything myself, but I am ok paying a bit of a premium to have some guidance while getting started.

Thanks for the input!