Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians
Richard Dolan, Don R. Campbell
"I would consider this the bible for any Canadians wanting to invest in US real estate."
—W. Brett Wilson, Entrepreneur, Recipient of the Order of Canada, and former Dragon
The thought of buying property in the United States has been on your mind. Perhaps family members or friends already own real estate in the Sunbelt and you've enjoyed the occasional visit. You sense the market isn't as frenzied as it once was but there is still very good value to be found. Whether you are looking for a vacation home or an investment property, you are certainly not alone.
Canadians continue to buy U.S. real estate at a record pace. But as the economy and laws change around ownership of U.S. property, Canadians need to have the most current information possible at their fingertips. Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians is written by experts who own U.S. property and addresses the many cross-border issues and requirements, such as:
- How to begin your search and find relevant data
- Finding the experts you need on your side
- Knowing that a property meets your lifestyle needs and wants
- Knowing all of your finance options
- How to proceed with renovations or upgrades
- What you need to know about U.S. tax laws
- What type of ownership is best aligned with your strategy
- How to create an estate plan
For Canadians generally, and boomers especially, the right property in the right destination point is integral to their life-rich philosophy. Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians puts all of the pieces of the puzzle together and is an essential guide to reaching one's ultimate destination.
purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com. Cataloguing in Publication Data Dolan, Richard, 1974- Buying US real estate: the proven and reliable guide for Canadians/Richard Dolan, Don R. Campbell, David Franklin. Includes index. Issued also in electronic format. ISBN 978-1-118-43120-7 1. House buying—United States. 2. House selling—United States. 3. Residential real estate—United States. 4. Real
penthouse condominium there may be nothing you can do to improve the property in the short term. The same holds for other “traditional” investments since you can't add a basement suite to your mutual fund and create extra value. Interest in this profit center is why we hear about so many fix-and-flip investors. It's also why there are so many reality TV shows about renovations. While forced appreciation is an important profit center and can allow you to make a quick buck, a strategy that targets
US estate tax may be payable on your death. Two-Tiered Limited Partnership This is an American limited partnership, which has as one of its members a Canadian limited partnership. It is essential that you secure legal services to set this up for you, because it is complicated. This structure has the advantage of allowing you to avoid estate tax. It also has the benefit of you being permitted to declare income personally. The sale of the property will attract a preferential capital gains
and finding joint venture investment partners can affect your US residential real estate investment decisions. Overcome Your Citizenship Issues Before we get into what some Canadians would consider to be among the grittier topics associated with US real estate investment, we take a broader look at cross-border issues. Insights 15 and 42 tackle the problems Canadians encounter when seeking to acquire financing from US lenders. Let's have a look now at what's behind those problems and give
investment market opportunities IRS J joint tenancy joint venture deal K key drivers Keys for Cash program kitchen L landlords landscaping lawsuits limited liability corporation (LLC) loss mitigator lowly geared property M market influencers market research stability marketing plan Michigan mortgage non-recourse mutual fund N National Association of Realtors national average National Electrical Code natural appreciation negative equity Nevada New York O