Hello everyone as a Canadian can i flipp houses in the United States???

Question

Iam verry new to this,in fact havent flipped a house yet .it seems as though everytime i search on the web for this type of info.iam outomaticaly put into the states.

Answer 1

I hope we let you. U.S. housing market continues to slump. It would be nice if Canadian help us out here. :)

In most area of the U.S., housing price stopped going up as inventory continues to build up. It is normal to see a correction as a boom that lasted for several years.

If you are investing new money in to real estate, this may not be a good time as the potential return on investment is small compare to the high risk of lower home price.

If you are doing a side way move, meaning you are selling one to buy another one, then it is acceptable.

Nothing is absolute, but housing market is very likely undergoing a correction and this is only the beginning. Some say this would be a soft landing (0 to 10%). Some say a big crashing is coming (10 to 20%).

http://money.cnn.com/2006/08/24/news/economy/newhomes/index.htm
http://money.cnn.com/2006/08/23/news/economy/homesales/index.htm

Answer 2

You never need to even enter the country to own property here in the US but as a previous post cautions, know what your are buying and and what it is worth today. WIth commissions sometimes going in and out of 6% each, you might find yourself looking for a 20% return just to earn 8%.

Answer 3

Just about anyone is allowed to buy real estate in the US.

Be aware prices in the US peaked last spring. Once you add in all the closing and carrying costs (taxes, insurance, utilities, etc), the chances of making money at it anymore are just about 0%.

Answer 4

Yes you can indeed. It's very popular to do here in the states. It doesn't matter that you're Canadian. You can do it here OR in Canada.

Answer 5

Yes, if you want to lose your shirt.