South of 49: The Canadian Guide to Buying Residential Real Estate in the United States
Author(s): Philip McKernan (Author), Dan Sampson (Author), Mike Cunning (Author)
Publisher: Wiley
Publication Date: 8 Oct. 2009
Edition: 1st
Language: English
Print length: 304 pages
ISBN-10: 0470161310
ISBN-13: 9780470161319
Book Description
“South of 49 is a must-read for anyone wanting to buy real estate in the United States. This groundbreaking book is jammed full of practical information that will ensure you avoid all the potential pitfalls.” ―Les Hewitt, author of The Power of Focus
“When buying real estate anywhere in the world, one must know all the facts and go in with eyes wide open. Before you even consider buying outside of Canada, know the realities by reading this book and learn from others’ mistakes.” ―Don R. Campbell, best-selling author of Real Estate Investing in Canada
“For any Canadian, buying real estate in the US can be the best decision you ever make, or the worst mistake you’ll never forget. Philip’s the real deal-an international investor who speaks from experience. This book will teach you how to make a great deal, reduce your risk and enjoy the journey along the way.” ―Greg Habstritt, founder of SimpleWealth
From the Introduction:
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.
Editorial Reviews
From the Inside Flap
Are you thinking about buying property in the United States? What has triggered your interest? Plans to retire and live in a Sunbelt state? Or perhaps you invest in Canadian real estate and are looking at the US market as a viable way to grow your portfolio.
In either case, you’re not alone. Canadians are buying US properties at unprecedented rates. It’s hard to turn your back on what appear to be deals of the century. But are they?
South of 49 is a step-by-step guide to purchasing real estate in the US. The authors-Philip McKernan, Dan Sampson and Mike Cunning-combine years of investment expertise to provide the most comprehensive and authoritative book on the subject for the Canadian investor. They traveled to those US states that are the destination points for most Canadians. They met with realtors, lenders, property managers, and investors to collect expert insight into the do’s and don’ts of buying property in the US. Here are just some of the things you’ll learn about:
Setting up a game plan: what are your goals?
The differences between US and Canadian real estate law, financing and tax
How to decide where to look for property
How to evaluate property with potential for cash flow and equity growth
How to set up a team of experts in the town where you want to buy
Financing strategies
Negotiating for and closing on a property
Buying property in the US can pose all sorts of unexpected challenges and pitfalls. Rely on South of 49 to find a property that meets your budget, in an area where the economic fundamentals are strong and offer equity growth for the long term. And if you do plan to spend part of your retirement in the US, you may just find that your investment strategy and retirement strategy are mutually served by investing now and having the property pay for itself.
From the Back Cover
“South of 49 is a must-read for anyone wanting to buy real estate in the United States. This groundbreaking book is jammed full of practical information that will ensure you avoid all the potential pitfalls.” ―Les Hewitt, author of The Power of Focus
“When buying real estate anywhere in the world, one must know all the facts and go in with eyes wide open. Before you even consider buying outside of Canada, know the realities by reading this book and learn from others’ mistakes.” ―Don R. Campbell, best-selling author of Real Estate Investing in Canada
“For any Canadian, buying real estate in the US can be the best decision you ever make, or the worst mistake you’ll never forget. Philip’s the real deal-an international investor who speaks from experience. This book will teach you how to make a great deal, reduce your risk and enjoy the journey along the way.” ―Greg Habstritt, founder of SimpleWealth
From the Introduction:
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.
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.
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