Getting a head start by beginning early is the most effective way to build wealth, with investment taking precedence. I've learned from last year's experience that starting early allowed me to create a better life through early investments this time around.
I always consult a financial advisor before investing. During the pandemic, I used their strategies to minimise risks and maximize profits, generating around $3 million in three years with my advisor, Jenny Pamogas Canaya.
I'm wondering what % income tax you pay for your rental income as a foreign home owner Do you have to report rental income to both county Canada and USA ? Reply would be appreciated. 😊
Hi Darren , I live in Halifax , Nova Scotia .....Housing prices are threw the roof making it very difficult to find profitable rental properties . I am a new Subscriber and love this video. Big shout out to the Tsikiras for sharing their story.
@@DarrenVoros I am going to invested in mini homes and rent them out . My buddy who is a carpenter owns many and is completely renovating them and then selling them to me to rent them out
Well done and informative video-- What are the current rules in the US for Air B&B as far as "absentee owners" go ? Rules here now in BC Can. state owner must reside on the property as well --
hey, I’m 18 got 33k and I am thinking of becoming a real estate agent and moving to the usa to do real estate because I heard there is really good money in the usa and also less competition....SHOULD I ? if yes or no why ? thank you
That's a loaded question with a simple answer. It depends :) There is more opportunity in the US based on the population but more competition. I believe you can be successful wherever you are if you have the right skills, tools and mindset.
I am a resident of Ontario and am getting close to retirement. I would like to explore opportunities for investment properties in Florida. Being of South Asian origin , I would like to look at more demographically diverse multi-cultural communities. Thanks!
Great video thanks! They mentioned they are buying property through an LLC. From my research, LLC for real estate leads to double taxation in USA and Canada. How do they avoid double taxation through an LLC?
I find it very interesting that this couple that had a pre-approved mortgage through a Canadian Bank, did not investigate more back in Canada to find a financial package for Arizona at less of an interest rate. TD bank and HSBC exist in the USA. I think for the savings in interest alone, it would have been worth the "cheap" flight to come back later and not rush a timeline. Great video - and a big thanks to this couple for their share. I believe the US real estate market holds many investment opportunities for Canadians - much more so than Canada, as you get better bang for the buck when it comes to various property types...
Do we need B1 visa for that?? If we are driving by car what do we need to tell immigration offficers exactly what we are going for?? Plus I want to make rental income do I also need to pay 20% down since I’m not planning to live there?
Could you ,please, come back to the subject : "I am Canadian, I want to buy real estate in the US", yes all the speakers on the net at the time was unable to answer your question: I am Canadian, I am buying a house in the USA to make a rental investment (I want to buy a house not 10 houses...) how much tax do I pay in the US, how much tax do I pay in Canada? taxs on annual rents ? thank you for taking my suggestion into consideration.
If you make money, you pay tax. It's that simple. How much tax you pay and where you pay your taxes depends on your structure. I'm not an accountant or a lawyer so I don't give out tax or legal advice but if you search this topic online there are so many resources to get your cross border tax questions answered. I hope that helps.
@@DarrenVoros✔ Well I'll give you the answer, if an "average" Canadian buys one (not two or ten) apartment in US from which he withdraws $1000 net per month, count $400 aside per month to manage the tenants & his credit, if he has credit .✔ in short, apart from the empirical rule of 1%, well known in real estate, no profit Boring calculus:he will pay $200 per month in taxs to the "US" and he will pay $150 "to Revenue Canada": total cost $350 in taxes per month, to which it will be necessary to add "the American property tax on the rented property, count "$200 per month", will remain in "the pocket of the Canadian "$450 per month", on the $450 he will have to pay immediately $50 per month because the bathroom will have to be redone every 4 to 5 years, in short there will be $400 per month left to pay for managing the tenants, his credit if he has a credit.
Your kids can go to school as US citizens. Yiu as a Canadian can visit and stay in the US for 90 days (pls double-check ). You have options in living the states 1) get a TN visa to work for long term 2) obtain a green card through your son (it’s a long process ). In the Long term your child will need to make and decision if he chooses to stay in Canada while keeping his US citizenship. I believe there is a tax implication !
@@mdte5421 how long it takes to get the US citizenship, after my daughter turns 21. We are now Canadian citizens and I think we can stay for 6 months in a stretch.
Hi Guys. Thanks for the video. I have a question pertain to taxes and legality of canadians using their home as AirBnB in USA. I have heard that technically AirBnB is considered a business - as opposed to a long term rental which is considered passive - and that as canadians we cannot engage in business in the USA without proper work / business authorization. As such to operate a AirBnB we need to have a contract with a property management company in place or appropriate work authorization that allows us to work / manage the AirBnB property . Is this correct?
