Buying Properties In Other Countries/canada
Hey, I am new at the real estate biz and very interested in buying Canadian properties. REO, Forclosure on single family or mobile homes. Any advice on how to buy in other countries? Can I even do that? Where would I find listing's for canadian property. Thanks
I have been interested in properties in the EU. Several countries are set to enter May 1. When Spain and other countries did that the RE boomed doubling and tripling in value over a short period of time.
I asked the wife this AM if there was a way to use some of the same principles in Hungary and make a living (for a year
Canada may be similar enough to the US that the principles might easily cross over.
You can obtain financing in Canada fairly easily, they'll pull your credit through the Canadian system. You shouldn't have any problems.
Aren't the taxes in general and on capital gains higher in Canada? Do they tax Americans at a higher rate?Is it easy to repatriate money? The Canadian dollar moved up big time against US$ in the last few months, came down a bit after the latest Canadian rate cuts though.
About two years ago I was up on the West Coast of Canada. I own about 660 acres of virgin, well semi virgin land in BC. It was a gift that the Canadians allowd me to gain due to my long and gallent service in the RCAF and RAF. So in 1946 I latched on to it. Of course it is on a lake. Great fishing, and really nice if you like bears and deers who stare. The only way in and out is by a little Bush Plane flown by a French Canadian whose life is lived in a haze of spirits. You never know when he reaches behind the seat if he is pulling out a map or a bottle. He loves Screetch a moonshine spirit from New Brunswick and Nova Scotia. It also removes tonsils and some bridgework. It does not work in spirit lamps, tends to explode.
First time I ever saw a guy land on a lake not touching the wheel he did it with his knees. That bet cost me a bottle of Scotch. Should have been aboard when we hit the submerged log. One of the Pontoons was wrecked so he just ran it up on the beach. Now that was a thrill.
But I love the place a whole new way of looking at life. They got it made.
I wanted to buy on a little island just off the East coast of Victoria. I even went to look at it. Just one thing wrong. You can get a contact high just by breathing in the air from the neighbors little farm. Now I know why all the coyotes were so laid back, they were bombed. A deer passed by they just laid there and smiled.
So I passed. No it is not legal it is just that the whole area is laid back.
After observing for a few days it was my decision that there was not enough delinquencys to make it worthwhile. So I passed. Remember if you jam up for some strange civilized reason all your neighbors butt in and help. Now that is civilized.
Hope this is helpful. They were rolling joints up there on the island that were 8 inches long and about half an inch wide.
I still remember the coyotes. First time I ever pet a coyote. First time I ever wanted too. Very Strange.
Lucius
To your question on if you can buy property in Canada is yes. I am a Canadian living in Florida. Actually you can own property pretty much anywhere. As long as you follow that countries laws. I know alot of Canadians who own properties here in the US. I will look into finding out for you where you can locate the properties. I will contact my people back in Canada and find out. As soon as I know I will post it here.
Demi
I was looking into buying a vacation home in Nova Scotia. My son's teacher said her father owned a property in Nova Scotia. It appreciated nicely, but when he sold it, capital gains tax was like 60%+. Is that an exaggeration?