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Old 05-18-2011, 03:27 PM
 
1 posts, read 1,814 times
Reputation: 10

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Hi all; I am interested in investing in some rental properties in and around LV neighborhood. I read some threads on this forum and indeed it is very helpful and provides excellent information.
I would like to know more about the hurdles, pitfalls in purchasing properties as a Canadian investor; specially from any Canadians who owns rental properties there.
Any good recommendations or suggestions regarding good Realtor s and property management companies will be greatly appreciated. I am cash buyer and would be interested in more than one properties.
If you are or you know some one who has good investment knowledge and dealt with Canadian investors; please feel free to PM me. Please pardon my English and Thank you all!!!
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Old 05-18-2011, 07:31 PM
 
2,724 posts, read 4,762,354 times
Reputation: 1042
Countdown:
...3
...2
...1
JACKPOT!!! <dingaly-dingaly-dingaly>
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Old 05-18-2011, 09:11 PM
 
2,879 posts, read 7,776,857 times
Reputation: 1184
There's a bunch of them in Phoenix.
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Old 05-19-2011, 09:23 AM
 
62 posts, read 113,248 times
Reputation: 28
I am in the same shoes as you tuhe1313. I am a Canadian going to buy a condo in Vegas in June/July. I will PM you my realtor down there, she is great. I will also let you know how my purchase goes.
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Old 05-19-2011, 03:02 PM
 
180 posts, read 391,522 times
Reputation: 44
@Killer
We are looking into a condo down there as well and would be interested in finding out the areas you are thinking of and if you have what info you have on them. We have also contacted several agents and they seem useless just send listing and no info
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Old 05-19-2011, 07:49 PM
 
Location: SoCal
681 posts, read 2,799,675 times
Reputation: 496
I've purchased a few properties already and am so far not regretting it. My agent has been very helpful throughout our sales process and has experience working with non-residents.

There aren't that many pitfalls and hurdles, the biggest thing you need to look into are the tax implications for you and how you are going to collect rent (especially if you don't have a US bank account).
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Old 05-19-2011, 10:04 PM
 
Location: Toronto Canada
5 posts, read 8,982 times
Reputation: 17
Buy it all...prices are low and wont stay like this forever
I bought a condo at Park Ave ...been rented since day 1...
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Old 05-19-2011, 11:40 PM
 
1,374 posts, read 2,433,951 times
Reputation: 789
Quote:
Originally Posted by Frankfromcanada View Post
Buy it all...prices are low and wont stay like this forever
I bought a condo at Park Ave ...been rented since day 1...
Can you share with us what the cash flow of your property looks like?
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Old 05-20-2011, 09:33 AM
 
62 posts, read 113,248 times
Reputation: 28
@mricu is your realtor Jamie? You recommended her to me and I use her.

@NU2LV Areas I have been suggested on this site are Summerlin, Southern Highlands, Green Valley. I think most realtors just send you listings, mine does, but I can go back and ask her questions about a property and she is right on top of it with answers. I will PM you her contact info.

Here is the monthly cashflow scenario I am thinking of, please let me know if I have missed anything:
Rental Income - $800 (someone with a similar place to what I am looking at is getting $950)
Property Managers Commission: (8%) $64
Condo Fees: $150
Property Tax: $1000 a year ($83 per month)
Insurance: $350 a year ($30 a month) this was a quote if I was living there, renters insurance may be a bit more.
Tax: 30% $140 (I hear if you have a mortgage on the property you do not pay any tax on rental income, or can claim it)
Property Manager Finders Fee - they charge $550 to find first renter, $250 for each after that.

In the end looks like a profit of about $330 per month.

@Frankfromcanada - please let me know if I have missed any expenses or if my numbers are not correct.
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Old 07-09-2011, 11:11 AM
 
Location: Kingman AZ
15,370 posts, read 39,098,836 times
Reputation: 9215
another trump that THINKS he knows something
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