By Richard Dolan, Don R. Campbell, David Franklin
"I could ponder this the bible for any Canadians eager to put money into US genuine estate."
—W. Brett Wilson, Entrepreneur, Recipient of the Order of Canada, and previous Dragon
The considered deciding to buy estate within the usa has been in your brain. maybe relations or acquaintances already personal genuine property within the Sunbelt and you've loved the occasional stopover at. You feel the marketplace isn't as frenzied because it as soon as used to be yet there's nonetheless first-class worth to be discovered. no matter if you're looking for a holiday domestic or an funding estate, you're under no circumstances alone.
Canadians proceed to shop for U.S. actual property at a list velocity. yet because the economic climate and legislation switch round possession of U.S. estate, Canadians should have the most up-tp-date details attainable at their fingertips. Buying U.S. actual property: The confirmed and trustworthy consultant for Canadians is written by means of specialists who personal U.S. estate and addresses the various cross-border matters and necessities, such as:
* the right way to start your seek and locate proper data
* discovering the specialists you wish in your side
* understanding estate meets your way of life wishes and wants
* realizing all your finance options
* tips to continue with renovations or upgrades
* What you must learn about U.S. tax laws
* What kind of possession is healthier aligned together with your strategy
* how you can create an property plan
For Canadians more often than not, and boomers in particular, the precise estate within the correct vacation spot element is necessary to their life-rich philosophy. Buying U.S. actual property: The confirmed and trustworthy consultant for Canadians puts the entire items of the puzzle jointly and is an important consultant to achieving one's final destination.
Read Online or Download Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians PDF
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Additional info for Buying U.S. Real Estate: The Proven and Reliable Guide for Canadians
Indd 26 7/27/12 9:45 AM Dig for Specific Information and Ignore Generalities | 27 state or national real estate stats mean nothing to a sophisticated investor. Sure, they’re interesting to read, but they’re useless to an investor because they don’t drill down into a specific target area. For example, you may hear a media report that the average national or state real estate values increased by 5 percent year over year. That number is generally useless. It could mean that some markets are up 10 percent, while others are down 5 percent, thus averaging 5 percent.
One of the most exciting incentives for people returning as first-time buyers is the down payment. 5 percent with an FHA-insured mortgage (the FHA is the US counterpart of the Canada Mortgage and Housing Corporation, or CMHC). Americans who have lost a home aren’t psychologically wired to stay renting forever. So the one-million-plus people who faced foreclosure in 2010 will be returning to the market in 2013 looking to purchase a new home, and they may as well purchase it from you. Contrast that with the Canadian situation, where it is still cheaper to rent than buy because of relatively high house prices, and where the interest payments on mortgages and property taxes are not deductible as they are in the US.
Find the areas that outperform the averages. indd 20 30/07/12 5:52 PM I N S I G H T 3 Let Quality Research Drive the System Some of the best sources of information are free. Quality market research is a prerequisite of quality real estate investments, so don’t ever skimp on your fundamental research. If you do, you dramatically increase your risk and will likely be caught in deals based on emotions. Worst of all, you could be the last to know the property is a loser—and your own laziness will be your only excuse.