Airbnb Investing in Canada vs. USA for Canadian Investors

What’s up guys, in today’s video, we’re going to be talking about investing in Canada versus the United States, I have a lot of people, understandably, who are Canadian who reached out to me and asked me about this. And they want to know whether they should get started investing in Canada, whether there’s really good opportunity here at all, or whether they’re better off just going down to the United States where the land of opportunity. So I want to take a moment here to address that and answer that question for you guys. Any of you Canadian viewers, if you’re not Canadian, this might not be as applicable to you. But feel free to stick around anyway. And before you leave, if you do, make sure you hit the like button, make sure you hit that subscribe button, I post two new videos every single week here on the channel, helping you to become a better investor and a better manager of properties on Airbnb. So make sure that you hit the like button and hit the subscribe button. Now, that being said, let’s jump right into it. And let’s start talking about the pros and cons of Canadian investing versus American investing. So for my fellow Canadians, if you are in Canada, I highly recommend that you just get started in Canada. Here’s why. If you start investing in properties down in the United States, you’re going to run into a few major roadblocks and issues. One is going to be that financing is going to get a whole lot more complicated. Because you don’t live and or have employment down in the United States without being a resident and citizen there, the financing options are going to be more limited. And they’re also going to be a little bit more challenging to get your hands on. So there’s just gonna be more complexity and more hoops to jump through when it comes to financing your property. In Canada, you also get a lot of tax advantages when buying properties that you’re not really going to be able to reap the rewards of if you’re investing in the United States. So does that mean that you should never buy property in the United States? Absolutely not, it’s just to say that if you’re just getting started, and you’re buying your first, second or third short term rental, it’s probably going to make a lot more sense to do so in Canada than in the United States. That’s just one way of looking at it, though, just the financing perspective. But let’s also take a look at taxation because taxes are a huge, huge factor in your short term rental investing or any investing you do. Because at the end of the day, it’s not about how much money you make, as we know, it’s about how much money you keep. So how much money are you going to keep when you invest in the United States versus Canada, a whole lot less, there’s going to be a tax withholding, that means that you’re going to oftentimes being faced with double taxation or the potential for double taxation, you’re gonna have to figure out ways to work around that. Now there are strategies, so you’re not getting double tax, but it is again going to be more complex, and there’s typically going to be a delay. So ultimately, it just means that again, there’s gonna be more complexity and more cost from a tax perspective. Guys just want to take a quick break here to say that for those of you watching, who want to build cashflow, and long term wealth by purchasing Airbnb and short term rental properties, there’s a link in the description right down below for a free training that will walk you through my exact strategy for investing successfully in Airbnb. Now, if you’re not ready to actually buy properties, and you want to get started managing other people’s properties on Airbnb the same way I got started and build a full time income managing other people’s properties, there’s actually another free training linked in the description down below as well, there’ll be a really great fit for you. So whether you want to invest in short term rental properties and actually build amazing cash flow and long term wealth by acquiring the assets, buying the properties themselves, or you’re looking to earn a full time income managing other people’s properties on Airbnb, we’ve got some awesome trainings that are linked in the description down below, that will definitely help you out. When you sign up for the trainings, we’re also going to send you a few other tools and resources completely for free just to help you get started. Again, the links to sign up are in the description down below. And both trainings and all the tools are completely free. So make sure to register for the trainings, links in the description down below. Now, the other thing that’s going to be challenging is that if you do end up needing to go buy your property, you’re going to have to take an international flight to go and do it. Now again, I do recommend that people start off being completely hands off, if that is their goal, if you don’t want to be hands on then be hands off. But that being said, when you’re first getting started, it is really really nice to have that safety net of being able to go buy the property and not have to worry about borders being shut down, not have to worry about you know, going and getting across the world getting on an international flight if we have something happen, like for example, what happened over the last couple of years that prevented Canadians from travelling internationally in the US for a period of time, that can really complicate things I can speak from experience. My parents, my family actually held property in the United States and weren’t able to go and get anywhere near it. That meant they couldn’t use it for their own holidays. And it also meant that they couldn’t keep a close eye on if they wanted to. Now thankfully for them. They had a great property manager setup. So it wasn’t a huge issue, I’m not saying by any means that it will be a complete deal breaker. But it is just another factor to consider and one that, for me makes it much more worthwhile to get started investing in Canada. That being said, I know a whole lot of you guys are interested in buying in the United States for various different reasons. So it can be a really great strategy, one of the strategies that I like the best is going to be to hold your property in the US that you bought cash, you don’t have to do financing, and do that by leveraging another mortgage or home equity line of credit, or what have you on real estate that you own in Canada, that means that your lending is going to be in Canadian dollars, which for a lot of you guys is going to be the currency that you earn money in. So you’re not having to do currency conversions. Now on a property that cash flows positive at all times, that’s not going to be a big issue, you wouldn’t have to convert the currency anyway. But again, if worst case scenario comes along, you’re never going to have to have the weak Canadian dollar relative to the US dollar that’s much stronger, and have to be doing that currency conversion in the wrong direction to pay your bills. So holding that debt in the same currency that you earn in, I personally like a bit better, you also have to remember the United States laws are different, and people are quite a bit more litigious than they are here in Canada. So for me, I always have a bit more of a concern when going into the US of having to make sure I have additional protection. So again, it’s just more stuff to figure out more complexity. And so, again, I just think always to myself, Why Why bother with that, that’s what it ultimately comes down to. Now, for some of you guys, I know that you have goals of owning a property in a specific part of the United States. And you want to do that for your own personal lifestyle reasons. If that is the goal for you 100% I support and if you want to make that happen, we can help you on that journey. But for any of you guys who are just looking to get the best return, and this is why I kind of want to make this video is because I know that a lot of people reach out to me, asking whether they should invest in the US and where they’re coming from is a thought process that there’s just better returns to be had and more money to be made in the US. And the opportunities just aren’t there in Canada. And to that I say you could not be more wrong, there are plenty of really, really great opportunities to invest in Canada. And so if you are in Canada, and all else equal it does, it’s not influenced by any personal or lifestyle factors. I say go for its start here in Canada, it’s going to be a lot simpler, less complexity, and you still have tonnes of great opportunities for investing. We’ve got properties that cashflow exceptionally well, better than a lot of properties I’ve seen in the United States. And we’re doing it right here in Canada, there’s a few different markets that you can invest in that produce really great returns, and that are overall really strong. Canada’s housing market is also very, very solid. So I personally like that. There’s all kinds of advantages that come with investing in Canada, you also get tax benefits. So there’s just a whole bunch to be gained for investing here in Canada. So if you’re one of those Canadians who has been thinking for a while now that investing in the US is the only way to go because the opportunities just aren’t here, I want to tell you that you’re absolutely not correct in thinking that I would highly recommend you reach out set up a call with our team, we’d love to show you some of the pockets around Canada, where you can invest and get really, really great returns. For any you guys who are in America. That’s not to say that there aren’t awesome opportunities in America as well. It’s just to say that there are opportunities everywhere and you can really take advantage of whichever one makes the most sense for you and your own personal situation. So if you’re wondering more about that, make sure you check out the links in description down below, check out our training, set up a call with our team, we’d be happy to cater a game plan to your specific scenario. With all that said, I hope you got value from this video. If you have any more questions for me, let me know in the comment section down below. With all that said, thanks for watching, and I’ll see you in the next video.