Description
Book SynopsisI 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.
Table of ContentsForeword 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
