# buying american real estate



## abcxyz (May 30, 2011)

i may be crazy but looking at arizona real estate it looks like a steal. anybody here have any previous experience buying a home in the US. i know theres a glut of homes available so it might not be an instant return but it almost seems to good to be true. any thoughts????


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## Berubeland (Sep 6, 2009)

True, but you almost have to move there to buy some, managing property in another country is no joke. 

A vacation home? A portfolio of multiple properties? sure. 

Rental properties thousands of miles from your home base? Not so good unless you can be there to oversee.


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## the-royal-mail (Dec 11, 2009)

As with most other new threads we see on here, I am going to recommend the OP do a search in CMF. All of these issues have been discussed numerous times in extreme detail. Rather than for us to keep having the same discussion over and over, it would be better if the OP would simply do a search.


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## kcowan (Jul 1, 2010)

Here are some references that I put together back in 2006 before I purchased in Mexico:
http://members.shaw.ca/beachis/RealEstate.htm
http://members.shaw.ca/keith.cowan/snowbird.htm
http://members.shaw.ca/beachis/USHousingBubble.htm
http://members.shaw.ca/beachis/HealthCare.htm
All these related to buying with a view to using US properties. If you are buying for investment, then there are IRS issues as well.


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## marina628 (Dec 14, 2010)

We have several friends who bought property in last 3 months in Arizona and Florida ,they got good prices and thinking ahead to few years when they will become snow birds but in short term will offset costs with renting it to family and friends .
I personally plan to wait for another year -18 months as I think we will see them go even lower.The mortgage debt forgiveness deal expires December 31 ,2012 which means we will probably see a surge in people walking away and cause a drop in the prices.http://www.irs.gov/irs/article/0,,id=179073,00.html

You really need to do your homework before buying outside the country.Our friend bought a place with hopes to rent it out only to find he is limited to 4 rentals a year and minimum of 31 day terms.Also subject to USA taxes if you earn money in USA.


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## kcowan (Jul 1, 2010)

marina628 said:


> Also subject to USA taxes if you earn money in USA.


And 30% withholding tax until you complete a W8-BEN and have an ITIN. Then the withholding tax is only 15%.


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## greeny (Jan 31, 2011)

I check your references right now and really good! 



kcowan said:


> Here are some references that I put together back in 2006 before I purchased in Mexico:
> http://members.shaw.ca/beachis/RealEstate.htm
> http://members.shaw.ca/keith.cowan/snowbird.htm
> http://members.shaw.ca/beachis/USHousingBubble.htm
> ...


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## atrp2biz (Sep 22, 2010)

Lots of tax consequences to consider.

http://www.trexglobal.com/property-...Tax_Tips_Foreign_Investors_US_Real_Estate.pdf


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## Addy (Mar 12, 2010)

What resources are you using to find these properties? I would love to view some examples online if possible of these inexpensive properties.


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## marina628 (Dec 14, 2010)

i have a real estate agent in florida she sends us the email listings based on our criiteria.If you are serious look for an agent there.


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## KristyW (Sep 7, 2011)

I was thinking that Arizona and Nevada were hit really hard with foreclosures. While this means really low housing values and possibly good deals, it could also be hard to find good renters. If you were buying a home as a vacation home, then I would go ahead as you've got lots of choices but I would be skeptical about buying it as a rental home.

____________

Kristy - Has anyone ever used http://www.northamerican.com/ to move?


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