Best U.S. Real Estate Investment Structures For Canadians With Gillian Irving & Michael Matthew

The Wisdom, Lifestyle, Money, Show

In this conversation, Gillian Irving, a mortgage agent, and Michael Matthew, a professional accountant, discuss the importance of setting up the right corporate structure for investing in US real estate. They explain that the type of entity to set up depends on the investor's goals and whether they plan to use the property for personal use or as a money-making venture. Michael recommends a triple C structure, which involves setting up a Canadian corporation, a C corporation in the US, and an LLC to hold the property. They also discuss the importance of choosing the right state for incorporation, considering factors such as landlord-friendly laws and tax benefits. Michael emphasizes the need for proper documentation and compliance with US tax requirements, and suggests working with a bookkeeper to handle ongoing financial management.

• (00:00) - Introduction and Background
• (01:44) - Investing in US Real Estate
• (03:10) - Choosing the Right Entity
• (05:51) - The Triple C Structure
• (09:08) - Landlord-Friendly States
• (11:33) - Tax Planning and Compliance
• (17:45) - Protecting Investments with Multiple LLCs
• (22:31) - Setting Up Entities and Paperwork
• (26:20) - Avoiding Common Mistakes
• (32:09) - Tips for New Investors

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Takeaways

• The type of entity to set up for investing in US real estate depends on the investor's goals and whether they plan to use the property for personal use or as a money-making venture.
• A triple C structure, involving a Canadian corporation, a C corporation in the US, and an LLC to hold the property, is recommended for investors looking to generate long-term cash flow from rental income.
• Choosing the right state for incorporation is important, considering factors such as landlord-friendly laws and tax benefits.
• Proper documentation and compliance with US tax requirements are crucial for investors, and working with a bookkeeper can help with ongoing financial management.

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