Last Updated on October 24, 2023 by CREW Editorial
Increasing numbers of Canadian real estate investors are reaping the rewards of expanding their horizons beyond the domestic market. Opportunities in many of Canada’s main markets are now severely limited and earning a solid income, or making a profit from flipping, is becoming increasingly difficult.
It should, therefore, come as little surprise that more Canadians are looking to the US for real estate investment opportunities. The states of Florida, Arizona and California are proving to be particularly popular – and lucrative – for Canadian investors.
Data show that Canadians purchased $10.5 billion of US real estate between April 1st 2017 and March 31st 2018. Florida is the most popular state among Canadians, with buyers investing $4 billion in the state, a figure which represents 39% of all Canadian money spent on US real estate in the same period.
“Canadians love Florida, and there is nowhere they like to spend their money more,” says Garry Walmsley, Senior Global Real Estate Advisor at The Orlando Agency. “Although this is something that has been happening for many years, in recent times the number of people taking advantage of the investment conditions in Florida has increased significantly.”
“Whether its investment properties, second homes, or a combination of the two, they are all available in Florida at tremendous value for money. There are opportunities in Florida that just do not exist in the major metropolitan areas of Canada.”
There’s clearly an opportunity south of the border, but what is the most effective way to take advantage? In order to educate readers on the best opportunities in the hottest US markets, CREW is teaming up with RBC Bank to host an exclusive webinar on October 17th at 2pm ET.
The webinar will cover the diversification, demographic trends and ROI expectations of the U.S. rental market and the financing options available for Canadians buying in the U.S. The session will also cover the differences of securing a mortgage in the U.S. versus Canada and discuss how getting a U.S. mortgage helps mitigate the impact of the currency exchange between CAD and USD.
The webinar will also feature a Q&A with Garry Walmsley and Alain Forget, a Director Business Development for RBC Bank.
You can sign up for free right here.
