Gary chatted with investor Glen Sutherland, a Canadian investing in the USA. He started with buy/hold investments early on in Canada
What you’ll learn:
- How Glen migrated from buying one investment property for his retirement to multiple units
- How the ‘Bank Of Grandma’ played in to his early success – family members can be a great source of cash for your investment journey
- Proactive strategies for dealing with tenants and rent, if they are struggling or lost their job, especially during a pandemic
- Should we be investing in real estate now, or see how things play out over the coming months?
- Why it still may be a good time to invest, based on past cycles
- What happens if there is a shortage in properties for sale, or if there are too many properties for sales?
- The differences between investing in the States and Canada
- How you must do research to see where you will invest in the US
- Why prices are more favourable in certain areas, and make it easier to get into the market vs. Ontario
- Why renovation costs in the US will gain you more, as everything is more expensive in Canada – Dual flush toilets were purchased for $60
- How it’s important to assemble a strong team to help you, or a good property manager
- Why you should be afraid of purchasing properties that need more love – Glen is no longer afraid of buying cheap properties that will appraise at a higher value
- Mortgages can be had, because there are so many banks across the United States, and some that are only in different states
- What is a ‘non-recourse loan’ in the US?
- Why you should use a corporation for investing, and nothing should be in your name
- What are the loan to value ratios in the US?
- What are the criteria for getting a mortgage in the US as a Canadian?
- Most mortgages are low risk in the US
- And MORE!
Glen Sutherland is a real estate investor from Cambridge, ON where he lives with his wife and two terrific children. He started his investing journey purchasing ‘buy and hold’ rental real estate locally. After a lot of research, he learned of more favourable laws, lower property taxes, and lower cost of entry south of the border. These factors make for greater ease of wealth creation. These days, Glen is investing in the US by buying, renovating, refinancing to grow his rental real estate portfolio. He also hosts the Podcast and Youtube channel entitled, “A Canadian Investing in the US”, where he provides information and advice to investors interested in investing in both Canada and the US. He enjoys the privilege of sharing his knowledge with others.