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Topics I've Participated In
Title | Poster | Replies | Updated |
---|---|---|---|
Vinyl Letters and Car Magnets vs. Bandit Signs | dccapital | 13 | 10 years 9 weeks ago |
Real Estate Investing Weekly Wisdom #290 - iPhone winner announced, upgrades, and... | dgadmin | 30 | 10 years 15 weeks ago |
Dean Graziosi Weekly Wisdom #184 - Logical Decisions | dgadmin | 1804 | 10 years 21 weeks ago |
Dean Graziosi Weekly Wisdom #208 - Help the Victims of Hurricane Sandy | dgadmin | 1001 | 10 years 32 weeks ago |
How to avoid transactional funding and deed restrictions without having an LLC up front | dccapital | 21 | 10 years 44 weeks ago |
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Seeking advice from Canadians working US market!
Hi DGFam,
I am seeking information from other Canadians who have incorporated in order to operate a real estate investing company in the US. I happened to incorporate with Veil Corporate. My structure is a Canadian Holding Company; in that is a US C-corp; and into that will go all my future buy and hold properties as LLCs.
Like most of us, I need to do a lot of wholesaling to build the funds to get to the buy and hold stage. Border crossings from Toronto to Buffalo are unsettling, so I consulted a US immigration lawyer just to be sure I was all legit. His advice was not what I wanted to hear ... he said I was illegally working for a US company (my own!) on US soil. He said that I should dissolve the US corp (which I won't), operate solely as a Canadian corp, and market US product (properties) only to Canadians. So my questions to you are: Under which company structure (Canadian or American) do you operate/market in the states? Do you market for buyers freely in both countries? Any other border-crossing advice you may have would be welcome. FYI, I always tell the truth to every question they ask!
I have been assured by Veil I indeed should operate under the US company. I'd like some reassurance and I would love to hear from you!!!
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Reply
Hi Marie,
Sorry for the late response.
I did talk to the person of Veil Corporate who is setting up my Company in the US. He was of the opinion that there is no restriction on Canadians selling properties to the Americans under a US Company. But this person Don is not a lawyer.
Did you get any further info about the matter.
How is your work going? Did you get your Company made thru Veil Corporate?
So what strategies are you good at?
Pls respond and thanks.
Neeelofer Rosa Khan
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New Canadian Investor
Hi Marie,
My partner and I are in Kingston, Ontario. Like you we are wholesaling right now and of course the U.S. is the place to do this.
We purchased a business structuring package with Veil Corporate as well. We also purchased a package with Safeguard for Tax Sentry. I have no worries about conducting illegal business in the U.S.
Don't forget we have the NAFTA agreement for just such cross border business activity and also which allows us the tax credit so as not to pay taxes twice.
We Only just started in July and haven't closed a deal in the U.S. yet. We are working in upper New York State, Syracuse and surrounding area specifically.
To address your question, if you have concerns, you should pose your questions to a real estate lawyer not an immigration lawyer for starters. Also, when you joined with Veil Corporate they should have given you a consult with a member of their legal team.
We will be operating under our American companies in the U.S. and yes, we market freely to both countries no matter which country of origin the company. When answering questions at the border I simply state that I am contractor to an American Company (You can name the company)coming in for business because I am...lol. That is the truth. They don't need to know who owns the company etc. Hope some of this helps.
I know many of DG's people use Guardian Law specifically for real estate concerns. They might be able to help you or at least can give you a good reference for another legal firm to assist you.
Best of luck to you.
Fell free to message me here or you can e-mail me at
lisa-richardson@****
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Hi Marie
Hello Marie,
Hope you are fine.
I am from DG group.
Are you from Canada and how is your business going?
I think you are near Buffalo?
Kindly let me know about your achievements and efforts also your concerns.
Thanks
Neelofer Khan
neelofercanada@****
617-252-8388
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Seeking advice from other Canadians!
Hi DGFam,
I am seeking information from other Canadians who have incorporated in order to operate a real estate investing company in the US. I happened to incorporate with Veil Corporate. My structure is a Canadian Holding Company; in that is a US C-corp; and into that will go all my future buy and hold properties as LLCs.
Like most of us, I need to do a lot of wholesaling to build the funds to get to the buy and hold stage. Border crossings from Toronto to Buffalo are unsettling, so I consulted a US immigration lawyer just to be sure I was all legit. His advice was not what I wanted to hear ... he said I was illegally working for a US company (my own!) on US soil. He said that I should dissolve the US corp (which I won't), operate solely as a Canadian corp, and market US product (properties) only to Canadians. So my questions to you are: Under which company structure (Canadian or American) do you operate/market in the states? Do you market for buyers freely in both countries? Any other border-crossing advice you may have would be welcome. FYI, I always tell the truth to every question they ask!
I assumed I'd be operating under the US company, so all my marketing materials (website, cards, car magnets, etc) are under that name. So right now, I am on hold with how to proceed. I would love to hear from you!!!