‘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.
Cuprins
Foreword xiii
Introduction 1
PART I: THE DECISION TO INVEST 7
Insight 1: The Economics Behind the US Market 9
Insight 2: Finding the Treasure with the Property Goldmine
Scorecard 18
Insight 3: Let Quality Research Drive the System 21
Insight 4: Dig for Specific Information and Ignore Generalities
26
Insight 5: Jobs, Infrastructure, and Gentrification 29
Insight 6: A Closer Look at Three States 36
PART II: THE DISTRESSED PROPERTY MARKET 45
Insight 7: Learn to Identify a Distressed Property 47
Insight 8: Understand the Fundamentals of the US Foreclosure
Process 52
Insight 9: Commit to the Number One Rule, Then Get Your Options
Straight 55
Insight 10: More on Due Diligence 61
Insight 11: Avoid the Snake-Oil Salesman 66
Insight 12: Recognize That a Bad Area in the United States Is
Very Different from a Bad Area Elsewhere 75
Insight 13: Look for the Stability of a Good Neighborhood and
Follow First-Time Homebuyers 80
Insight 14: Choose Your Exit Strategy Before You Make the Deal
84
Insight 15: Know Your Financing Options and Obstacles 91
Insight 16: Understand the Real Estate Cycle 96
Insight 17: Find the People Who Can Help You Find Foreclosures
105
Insight 18: Benefi t from the Five Profi t Centers of Real
Estate 113
Insight 19: What a Full-Service Real Estate Investment Group
Offers 118
Insight 20: Analyze Your Deal 123
PART III: RENOVATIONS AND MANAGEMENT 135
Insight 21: Work Smartly with Contractors and Subcontractors
137
Insight 22: Weigh Reno Must-Haves with Nice-to-Haves 143
Insight 23: Dial Up the Intellect (Dial Down the Emotions)
148
Insight 24: Do the Big Four Renos on a Rental Property–Now
152
Insight 25: Get Everything in Writing 157
Insight 26: Curb Appeal: You’ve Got Seven Seconds to Impress Me
161
Insight 27: Run If You Spot Any of the Top Three Reno Red Flags
165
Insight 28: Hire the Right Property Manager 172
Insight 29: Make Money by Delegating to Your Property Manager
177
Insight 30: Set the Rules Up Front with Your Property Manager
180
Insight 31: Be Smart about Rent Collection 184
PART IV: CROSS-BORDER TAX PLANNING 189
Insight 32: Understanding US Tax Laws 191
Insight 33: Taking Title to Your US Property Investments 197
Insight 34: Deal with Depreciation 202
PART V: LEGAL PLANNING 213
Insight 36: The Three Pillars of Real Estate Asset Protection
215
Insight 37: Develop an Asset Protection Plan and Be Prepared to
Avoid Lawsuits 219
Insight 38: Counter Threats to Your Wealth with Foresight
222
Insight 39: Draw Up a Blueprint for Your Estate Plan 226
Insight 40: Steer Clear of Asset Protection Fakes, Scams, and
Planning Errors 233
PART VI: CROSS-BORDER BANKING AND FINANCING 239
Insight 41: Understand Cross-Border Issues 241
Insight 42: Familiarize Yourself with US Mortgage Financing
245
Insight 43: Buy US Real Estate Property with Other People’s
Money 248
PART VII: INSURANCE AND INVESTMENTS 253
Insight 44: Insure Your Investment 255
Insight 45: Carry Insurance Beyond the Property Line: Medical,
Auto, and Third-Party Liability 262
Appendix: Considerations for Buying a Second Home 266
Index 269
About the Authors 274
Despre autor
Richard Dolan (Toronto) is the CEO and Senior Analyst of the U.S. Property Shop, a U.S. real estate capital advisory and research company based in Toronto.?Dolan has co-designed two certification programs, Certified Wealth Management & Marketing and Selling Wealth Management Services, which are offered at the Schulich School of Business, York University.
Don R. Campbell (Vancouver) is a Founding Partner of the Real Estate Investment Network(tm).?He is a leader in providing Canada’s most current real estate investment education programs and economic research materials, and is the author of the best-selling Real Estate Investing in Canada 2.0 and co-author of 97 Tips for Canadian Real Estate Investors; Real Estate Joint Ventures; and Secrets of the Canadian Real Estate Cycle.
David Franklin (Toronto) is counsel to The US Property Shop and an expert on Canadian and US real estate.
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