South of 49: The Canadian Guide to Buying Residential Real Estate in the United States

by Philip McKernan, Dan Sampson, Mike Cunning

Overview

Whether it's a lifestyle purchase or an investment, there are many factors about buying US property that many Canadian buyers understandably find confusing, or they overlook. Add to that the complexities of the new foreclosure-driven buyers' market, and buying a US property could be a recipe for disaster if you don't do your homework.

That's where South of 49 comes in. This book is about more than just tax advice and buying tips. We take you through all of the real-life considerations when buying down south, from travel time and immigration rules to making sure the home or condo you buy actually fits your investment goals. We will also help you answer one very important question when considering such a purchase: Why? Why should you buy a place and not just rent? Why should you buy in Florida instead of California, for example? The answers? It all depends. It depends on you, your individual circumstances and your goals. This book will help you think through these decisions before you make them.

Product Details

ISBN-13:	9780470676028
Publisher:	Wiley
Publication date:	12/03/2009
Sold by:	JOHN WILEY & SONS
Format:	eBook
Pages:	304
File size:	439 KB

About the Author

Philip McKernan (Vancouver, BC) is Irish-born and has traveled the world following business pursuits. Now based in Canada, he is founder and president of the real estate investment company Maple Leaf Property. He is also an in-demand speaker at various international real estate and investment forums, where he speaks to achieving personal and business goals using real estate as the primary asset class to generate long-term wealth. His investment portfolio includes properties in Ireland, the United Kingdom, France, Finland, South Africa and North America. Philip has been quoted in the press on both sides of the Atlantic on matters related to international real estate. For more information about Philip, real estate mentoring and events, see www.southof49.com.

Dan Sampson (Vancouver, BC) and Mike Cunning (Vancouver, BC) bring a wealth of real estate knowledge to South of 49. Their combined expertise includes urban planning, building and renovation, and property conversion and management. Their investment portfolio includes both commercial and residential properties. They are experts in property analysis, proper due diligence, assembling teams of experts-lenders, lawyers and realtors-strategic financing, and negotiating and closing purchases and sales.

Table of Contents

Acknowledgments vii

Introduction 1

Chapter 1 Of Risk and Reward 5

Chapter 2 Of Phoenix and Foreclosures 11

Chapter 3 Of a Team and a Dream 29

Chapter 4 Of Florida and Mount Everest 43

Chapter 5 Of Experts and Equity 71

Chapter 6 Of Ownership, Death and Taxes 93

Chapter 7 Of a California Lifestyle and a Nevada Auction 121

Chapter 8 Of Phoenix and Palm Springs, and Narrowing the Search 161

Chapter 9 Of Offers and Counter-Offers 193

Chapter 10 Of Escrow Officers and Closing the Deal 217

Chapter 11 Victory 235

Epilogue 243

Index 249