Quote:
Originally Posted by Rathji
What would be the difference with buying a property at 70% value in Phoenix/Vegas and buying one for that here? Other than one being a lot further away.
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Mostly the fact that there are nowhere near the same number of deals available.
Regardless, it's not so simple. Check with a lawyer who specializes in these types of deals before investing. Most states have laws that somewhat discourage foreign property investment by adding extra taxes fees, etc. Also, remember that it must be upkept and check out bylaws to see what is required. Also, foreign investments are taxed differently here in Canada. Message: do your homework and get a professional to help you (lawyer, real estate agent or whatever). A bad $40,000 investment is bad no matter how small and losses could escalate if you can't sell it again.