All Forum Posts by: Yousef Reda

@Giuseppe Pavone Hi I am thinking of investing in a triplex in Gibson neighborhood in Hamilton. What are your thoughts here. I would rent it out and hopefully cash flow around 500$/month. I heard some mixed reviews. I know its undergoing gentrification. Thank you please let me know your thoughts. 

@Bryn Joynes@Joe Di Fonzo Hey guys im looking at purchasing a Triplex in Gibson neighborhood in hamilton. Hamilton is undergoing significant gentrification lately. Wanted to know your thoughts on this area. The Triplex should cash flow me 500$/month. Vacansy rate in hamilton is about 3.4%. Thanks guys 

@Thomas Lorini@Belinda D. Hey guys do either of you know if Gibson neighborhood specifically Cannon Street East is a good place to invest for a triplex? I heard Hamilton is undergoing significant gentrification which ive seen in New York. What are your thoughts if any. Thanks guys

@Andrew BauerGreat discussion question. I found a property that will cash flow me 1000$US/month after all expenditures for a 99,000$ property. I thought i hit the gold mine then checked out property and the people there have liquor bottles throughout the property. Very low socioeconomic status situation. I backed out because i dont know the long term implication of having this sort of tenancy. Did you get any more experience in this issue?? Thanks again for bringing up such an important and crucial question 

@Chad U. yea seems like u are a celebrity my friend lol. Yes I have run out of options in Canada and I scowered a lotttttt of properties. The cash flows dont come close to the US cash flows and even if there is 30% witholding tax (which i know there are ways to get around) you still will come out better if you find the right deal(there is just so much more deals to look at!)

@Andy Gore Thanks Andy I appreciate it. Why do you recommend him. Do you know if he has had lots of experience with Canadians ? 

For everyone else reading this forum. Here is the link to how you can prevent the IRS from taking your 30% witholding tax. Scroll down to section called avoiding 30 percent witholding. 

@Roy N. you probably know this already. 

https://clintcoons.wordpress.com/cross-border-real...

@Linda Weygant Thats great expertise Linda. Great to have specialists like you on here. 

@Dennis M. Hey im loking to get a US property in a few days. Wanted your quick advice on if you found a cross border lawyer that was great and an accountant. Great discussion here guys thanks!

@Account Closed I put in an offer for a triplex and he said he has multiple offers. Within the same day he accepted my offer he is already giving me a contract. Should i be cautious? However at the same time i dont want to lose out on this deal!

@Linda Weygant Hey Linda thanks. I was referring to filing personally without an LLC and file a US income tax return you wont be subject to 30% witholding is what I read on the IRS website. Hence we need to be due diligent to see what fits us best. However it seems that most people are going through an LLC. I notice you are a CPA, are you a cross border specialist or a general CPA?

@Skylar Dejesus people will tell you that there are no people who are rich that just do fix and flips. It is much better to build wealth through MF units then fix and flips. If you do fix and flips and want to be rich you should own buy/hold rental properties for passive income