South of 49: The Canadian Guide to Buying Residential Real Estate in the United States [Hardcover]

"When buying real estate anywhere in the world, one must know all the facts and go in with eyes wide open. Before you even consider buying outside of Canada, know the realities by reading this book and learn from others' mistakes."
—Don R. Campbell, best-selling author of Real Estate Investing in Canada

"For any Canadian, buying real estate in the US can be the best decision you ever make, or the worst mistake you'll never forget. Philip's the real deal-an international investor who speaks from experience. This book will teach you how to make a great deal, reduce your risk and enjoy the journey along the way."
—Greg Habstritt, founder of SimpleWealth

From the Introduction:

Whether it's a lifestyle purchase or an investment, there are many factors about buying US property that many Canadian buyers understandably find confusing, or they overlook. Add to that the complexities of the new foreclosure-driven buyers' market, and buying a US property could be a recipe for disaster if you don't do your homework.

That's where South of 49 comes in. This book is about more than just tax advice and buying tips. We take you through all of the real-life considerations when buying down south, from travel time and immigration rules to making sure the home or condo you buy actually fits your investment goals. We will also help you answer one very important question when considering such a purchase: Why? Why should you buy a place and not just rent? Why should you buy in Florida instead of California, for example? The answers? It all depends. It depends on you, your individual circumstances and your goals. This book will help you think through these decisions before you make them.

In either case, you're not alone. Canadians are buying US properties at unprecedented rates. It's hard to turn your back on what appear to be deals of the century. But are they?

South of 49 is a step-by-step guide to purchasing real estate in the US. The authors-Philip McKernan, Dan Sampson and Mike Cunning-combine years of investment expertise to provide the most comprehensive and authoritative book on the subject for the Canadian investor. They traveled to those US states that are the destination points for most Canadians. They met with realtors, lenders, property managers, and investors to collect expert insight into the do's and don'ts of buying property in the US. Here are just some of the things you'll learn about:

• Setting up a game plan: what are your goals?
• The differences between US and Canadian real estate law, financing and tax
• How to decide where to look for property
• How to evaluate property with potential for cash flow and equity growth
• How to set up a team of experts in the town where you want to buy
• Financing strategies
• Negotiating for and closing on a property

Buying property in the US can pose all sorts of unexpected challenges and pitfalls. Rely on South of 49 to find a property that meets your budget, in an area where the economic fundamentals are strong and offer equity growth for the long term. And if you do plan to spend part of your retirement in the US, you may just find that your investment strategy and retirement strategy are mutually served by investing now and having the property pay for itself.