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More tips or things Canadians need to pay attention to

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

More tips or things Canadians need to pay attention to

When people first think about Florida very often they do not appreciate how diverse it is. As a result, they often fall into the trap of looking at a home for sale in Florida in the wrong area and buying completely unsuitable Florida villas/houses.   Pay attention to choose the location of property in Florida Make sure you put in the hours researching Florida homes for sale and the areas they […]

House vs. Condominium for property buyers

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

House vs. Condominium for property buyers

There is something about owning a plot of land, having space to lounge about and play, and a place to grow your own garden. With a house, you can have a nice, private space, all to yourself, and you can also be close to nature. The drawbacks can be increased maintenance as well as commute times. Let’s do a toss-up of houses versus condominiums: 1) Advantages of a house You don’t have to be right u […]

Should I Buy a Florida Home or Florida Condo?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

Should I Buy a Florida Home or Florida Condo?

House vs. Condominium There is something about owning a plot of land, having space to lounge about and play, and a place to grow your own garden. With a house, you can have a nice, private space, all to yourself, and you can also be close to nature. The drawbacks can be increased maintenance as well as commute times. Let’s do a toss-up of houses versus condominiums: 1) Advantages of a house You do […]

Why are Canadians buying Florida real estate?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

Why are Canadians buying Florida real estate?

The reason Canadians love buying Florida real estate so much is likely due to the economic situation in Canada and the US as well as social factors. This perfect combination has created a high interest for Canadians to buy US real estate. Firstly, the US economy has been struggling for some time due to its real estate crash. Housing prices decreased significantly, including in Florida. Meanwhile, […]

How To Start Thinking About Buying Florida Real Estate?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

How To Start Thinking About Buying Florida Real Estate?

You need to start by asking yourself a few questions (below).  You can find plenty of cheap properties in Florida but that does not mean you are getting a good deal – some of the properties are cheap for a reason – maybe something is wrong with the real estate unit. – Is it in good shape and does it need repair work and lots of upgrades? – location, location, location. Is the neighborh […]

What you need to consider before buying US real estate?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

What you need to consider before buying US real estate?

1. Buying Florida Real Estate Takes Time. You can’t be a passive real estate investor when buying florida real estate. Just like any place in Toronto, you can’t just buy in any area or neighborhood and expect them all to perform the same. It is all about location, location, location. This requires local knowledge and expertise. 2. Renting out Florida real estate will involve hiccups. Managing tena […]

Florida 101

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

Florida 101

About Florida Florida is known as the “Sunshine State” and is located in the southeastern United States. The Atlantic Ocean lies to the east of Florida and the coastline of Florida measures approximately 1,200 miles. The beautiful beaches and warm climate attract a lot of tourists and property buyers all over the world. Moreover, many Canadians live in Florida during the cold winters in Canada and […]

What is a non-recourse mortgage?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

What is a non-recourse mortgage?

A non-recourse mortgage is not a typical mortgage.  Usually banks want a recourse mortgage such that if monthly interest payments are missed, the lender has recourse on the property and on the owner of the real estate property.  In a non-recourse mortgage, the lender only has recourse on the property only. A spouse can be used to setup a non-recourse mortgage using standard commercial terms.  If t […]

Should you incorporate in the US to buy your US real estate?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

Should you incorporate in the US to buy your US real estate?

C Corporations pay some of the highest tax rates in North America and is generally not ideal to use to buy US real estate.  The benefits of using a C Corporation is that you can limit your personal liability for any issues that arise with respect to the US property.  The downside is high tax rates of up to 35%.  S Corporations are only available to US residents and are not applicable to Canadian r […]

Can you deduct mortgage interest for your US real estate?

Posted by on Dec 6, 2014 in Top FAQ's | 0 comments

Can you deduct mortgage interest for your US real estate?

  It is well known that US residents can write-off their mortgage interest payments even for their residential property.  If you borrow in the US, through a US mortgage, then you can deduct your US interest against your US rental revenue. If you borrow in Canada for your US real estate property, you cannot deduct Canadian interest on your US taxes, however, you can deduct your Canadian intere […]