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Originally Posted by syee
Great thread! I've also been looking into doing this as I have a bit of money in the US in investments that aren't giving me great returns that I'd like to do more with.
Do you know of any people who have knowledge of the ins and outs of the tax implications of buying US property that you could refer? I'd definitely like to talk to someone first about whether this is something that's worth my while or not.
Also, do you use any specific source to get rental value figures or do you just browse Craigslist for ballpark rental numbers in the area you're looking for?
I'm looking to invest in a property in Denver - mainly because I've lived there for a few years so I have some knowledge of the area and friends there that can help with managing my property if needed. I'm looking at places under $100K - since that's basically the value of my USD investments at this time so not looking to have to borrow. What's your thoughts of the Denver market (if you've looked into the area?)
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Yes, i know the ins and outs of the US / cross border issues of ownership of US investment properties - this is an EXTREMELY specialized area of knowledge, so unless you work in that space, you should pay someone to advise you on it (or invest with someone who knows what htey're doing through joint ventures - i'll pm you my website, as this is what i do).
as for denver - great city, i don't know enough about the laws, rules, and regulations there (which is a HUGE issue), or the market there - i do, however, strongly suggest you do not mixed business with pleasure by getting friends to manage your property, even if they are getting paid by you - you definitely want a professional team managing your property otherwise you're just asking for something to go wrong in the future
as for rental rates, etc - i own a load of property in the states, so my knowledge is based on actuals