US Real Estate: helping Canadians Over the Border
The Realtyboys help Canadians buy, sell, and manage US property by navigating the subtleties of cross-border ownership
Canada and the Unites States are, of course, separate countries governed by different laws, unique perceptions, and particular requirements. Proper cross-border investing therefore NECESSARILY REQUIRES a comprehensive understanding of each jurisdiction on both Federal and local levels AND how each law/requirement interacts with one another in your particular situation (if at all)...since without this you cannot effectively position your investment or yourself.
You MUST consider:
- Investment Structures (Legal/Entity)
- Tax Requirements/Impact (CA-US)
- Financing
- Banking and Credit Vehicles
- Currency Exchange
PLUS you need a team of reliable vendors, including:
- Real Estate Agent(s)
- Attorney(s)
- Title Broker(s)
- Contractor(s) [various types]
- Property Manager(s)
- Inspector(s)
- Insurance Agent(s)
- Registration Agent(s)
- Acceptance Agent(s)
- Bookkeeper(s) [US-CA]
- Accountant(s) [US-CA]
And if that wasn't enough...to succeed in each market you NEED to understand:
- Buyer and Seller Methodology (psychology, procedure)
- Sales Processes (aka Foreclosures, Short Sales, Tax Sales, etc)
- Legal Contracts (by jurisdiction)
- Area(s) [Market Drivers]
- Municipal ByLaws
- Landlord-Tenant Law(s)
- Utility Requirements
- Market Factors (micro/macro)
And don't forget, of course, the REQUIRED:
- Time
- Money
- Acumen
- Experience
- Relationships
- Due Diligence
- Patience
- Charisma
- and Research
So in a nutshell:
Yes you might do it yourself, but realize the OPPORTUNITY COST of doing it that way versus trusting the RealtyBoys do handle it...(especially with prices now rising amidst a US housing recovery)