Book a call with our team: https://go.oncehub.com/morrisinvest
This episode is sponsored by ZipRecruiter! With their powerful matching technology, ZipRecruiter scans thousands of resumes to find people with the right skills and experience for your job — and actively invites them to apply. ZipRecruiter is so effective that 4 out of 5 employers who post on ZipRecruiter get a quality candidate within the first day. To try ZipRecruiter for free, my listeners can go to ziprecruiter.com/investing.
There’s no denying this fact: the US is the best place to invest in real estate. But how can you approach this strategy when you’re Canadian? It’s certainly possible for Canadian investors to buy properties in the US, but there are a few extra hoops and hurdles to jump through.
There’s no better person to learn about this topic from than Glen Sutherland! Glen is a Canadian investor, and the host of A Canadian Investing in the US Podcast. On today’s show, he’s sharing what Canadians need to know about buying rental properties in the United States!
On this episode you’ll learn:
- Why Glen started investing in the US.
- The differences in landlord laws in the US & Canada.
- What Canadian investors need to setup before investing in the US.
- And more!
Why Glen Started Investing in the US
After having a positive experience investing in Ontario, Glen realized that he could make better returns by purchasing rental properties in the US. He discovered that by crossing the border, he could find cheaper houses, lower taxes, smaller down payments, and better landlord laws.
The Differences in Landlord Laws in the US & Canada
Although US landlord laws vary state-by-state, Glen says that Ontario is more like the US’ least landlord friendly states. In Canada, evictions can take much longer and be more costly than a landlord friendly state.
What Canadian Investors Need to Set Up Before Investing in the US
First of all, Canadian investors will need to set up an international tax ID (ITIN). A CPA can set this up for you, or you can do it yourself. Canadian investors also need to consider their business structure, which will differ from how Americans are advised. Canadian investors can have LLCs, but they should not have an LLC at the top of their structure. This method would cause the investor to be double-taxed. Instead, it is better for Canadian investors to use a C-Corp or LP as their holding company.
Knightsbridge Foreign Exchange
Subscribe to Investing in Real Estate on Apple Podcasts
Find Your Financial Freedom Number
Subscribe to the Morris Invest YouTube channel
Like Morris Invest on Facebook
Connect with Glen Sutherland
Ready To Build Passive Income Through Rental Real Estate?
Ready to talk about your goals? We're here to show you the tools and teach you the process to begin earning legacy wealth for you and your family.