Thinking about investing in real estate south of the border? There are great deals to be had in Florida and Arizona, but plenty of pitfalls, too, according to a Vancouver company that specializes in helping Canadians invest in U.S. income properties.
Aperture Investment Group, which has opened an office in Vancouver, buys distressed properties in the U.S.on behalf of Canadian clients.
"U.S. residential real estate is currently attractive for Canadians whose own homes have increased in value significantly,” said Troy Peterson, Aperture’s director of U.S. operations.
“This creates an opportunity to obtain a single-digit, low-interest secured line of credit which can be leveraged to purchase U.S. houses at significantly reduced prices relative to their peak a few years ago.”
Aperture caters to Canadian investors who want to buy homes in the U.S. as income-generating investments.
He said a house in Orlando or Phoenix can be had for $50,000 to $90,000 and can be rented out for $800 to $1,000 per month.
But because they are distressed properties sold at auction, they’re sold as-is, so there’s some risk involved.
Aperture helps reduce the risk by doing some of the due diligence for Canadian buyers for a fee.
Aperture will be holding a series of information sessions June 6 in Richmond and June 7 at Canada Place.
Nelson Bennett
Twitter: nbennett_biv