any tax tips on airbnb in USA as Canadian?

For double taxation , canada does have a treaty signed which safeguard candians from double taxation.

I’m a new property owner. I kept the tenant that was living there before i bought the place. I don’t do inspections often unless the tenant needs something fixed. Insurance company needed to take some photos so I went along. I was mortified to find that my tenant had painted most of the walls black with lime green splatter paint, cut a pet door in the laundry room door, and all of the door frames have been destroyed by his dogs. Needless to say this is his last month in the home and now I have a lot of work ahead of me to fix everything.

How do I find a private lender?

Thanks for the info Darren. What about British Columbia market? It's almost impossible to be cash positive for newly build properties.

very informative and well communicated. thanks!

Mega interessant, gerne mehr davon.

Finding a property manager for your short term rental can be challenging. Thats why we offer a 5 star guarantee revenue model. If anyone leaves a review less than 5 stars, we do not get paid.

Rrsp

RRSP

Great video Darren.

nice content!

Please, how is the process to concrete a purchase in terms of documents to be signed and process?

Thank you Darren for clear explanation! Could you please tell me the following: 1) what was the strength of the concrete? How many PSI? Did they mixed concrete themselves or ordered? If they mixed themselves, what concrete bags brand did they buy? Did they used additives to the concrete (fiber, plastificator, extra cement, etc.)? 2) What are the dimensions of the footing and stem wall? 3) Did you used rebars for reinforcement? If yes - how many on the bottom and vertical? Size? Did they used bars to connect between old and new foundation? If yes, how they did it? 4) How did they removed supporting barring wall jacks and installed supportincluding beam?

Thanks for the tips. We're currently working in a basement putting up LVL's. The one kid removed a temporary brace and the first floor sagged about 5 or 6 inches. Fortunately we were able to get it back up and no one was hurt. I noticed when everyone is rushing, things like that can happen. I'm still in the learning stage so videos like this help me to get familiar with load bearing and non load bearing walls and where to start looking.

How do you know you have a lawyer you can trust ?

Wow , you did such an excellent job explaining the phases, and everything, and good flow bro, excellent camera man

Great video!

So much value Thank you Darren

in my case invested in monterrey in here also crazy raise up. when i purchased (10years ago) and now so much raise up value. i almost shit my pants now i dont need to work anymore. before than 40years ago but now i am not sure this is bubble or not. we need to consider total usd balance in the mexico.

Thank you for the great information and summary. I like that you provided the hybrid version. Impressive. Valuable info for the beginner as well as the seasoned.

Did i miss something? Halfway through your mortgage would you not be paying double interest for remaining mortgage and interest from heloc? (Min. Payment for borrowing)

This is gold, you hit all the questions. Thanks for sharing!

How could I safe taxes? I also get punished because I have my house as an investment property rented out but live overseas. Could I increase my equity? How can I get that new money you are talking about? Who would consult me what to do?

So I own a property in AB Canada 🇨🇦 and have a 7% rate. Also my mortgage is a homeliness of credit and because I pay 7% I can’t pay anything off from my mortgage.

Just discovered your video. Fantastic concept, thorough explanation, I completely understand! Will be calling my accountant about it tomorrow. Major thanks

7:02 "I digged this by hand..." How long did that hand-digging take? How many feets of wall did you underpin? Would you do it again or would you use machines, despite the costs? Thanks!

I subscribed... and literally as soon as you said 'Ontario' I hit the bell and gave you a LIKE!

Great video, Darren. I always have good takeaways after watching. I am wondering though, why do REI never factor in actual tax paid on any rental income. This almost always reduces my profit, since I never have enough write offs to reduce my rental income to zero. Would appreciate if you have any insight or thoughts on this.

3500 can dollars a month, r u sure?

It is not a lease back

got a question, im planning on having a home built with a multi story basement, would i go to a structural engineer first before an architect or should i find both as partners for such a project?

Ok, I live in Calgary...At the moment it is very expensive. I want to buy a rental 1.5hrs away in central Alberta. House prices in Calgary are out of my reach and a have a decent paying job here. I do not want to move but want to pay cash and then rent it out. Financing is not an option at the moment. Should I leap?

Respect....!!!

A lot of the small property management companies truly don’t know what they’re doing. Now, with that said Before I get into my response, I want to let you understand where I’m coming from with this. I have decades of experience working at the large, statewide and national property management organizations (where I’ve managed the 300-600 unit apartment communities) Here, we train our leasing agents and Property Managers the proper and right way to do things. Just recently, I launched my “landlord training program “ where I bring all the training and education that we give to our leasing agents over to the small private landlord. In doing my search for marketing to potential landlords, I have come across some really scary things that I am seeing these landlords and small management companies doing and saying on their websites, etc. that frankly, I’d get the electric chair for if I ever did or said some of these things I’m seeing. Now-All that said, once you’ve taken my training classes, you will have learned just about everything that the large national and statewide management companies teach their staff. To help you better understand this , I use the analogy of the automobile sales industry. If you’re buying a car, there are three primary sources of purchasing that car. There’s the guy who puts his car in the driveway with the “for sale” sign and puts the ad on Craigslist , then there’s the “Bob’s Auto sales” guy who has a small lot and has pretty much owned this for many years. To give you an understanding of what my training courses are about…. I have never (to continue with this analogy) “put my car in the driveway and put a for sale sign on it “ (meaning I don’t own an 8 unit apartment building, etc) nor have I ever owned a “Bobs auto sales” (or in my case -Jim’s auto sales 🙂)(meaning I don’t own a small management company)….Instead, I come from the “Toyota and Chrysler Dealership” side of our business.. I come from the large national and statewide Property Management organizations (with regional managers, etc) My courses teach the small landlords how we train our staff at that side of the industry. www.Jppropertyconsulting.com Most of the YT advise channels are simply what I would call “Bob” at Bobs auto sales trying to teach “Joe” at Joes auto sales how Bob does things. I will teach Both Bob and Joe how we do things at the Chrysler and Toyota side of our industry-if that makes sense. With that said, my classes are designed to teach the small landlords all these things so that you can manage your properties yourself instead of hiring a small outfit who frankly (from my perspective-where I come from) doesn’t know what they’re doing. Sorry for the long winded response. Also, my contact info is on the website-feel free to contact me with any questions. You can also check out my extensive industry background on LinkedIn- Jim Puccio, ARM, CAM

Just found your channel, and this was a phenomenal breakdown🧠. I sometimes hear that contractors should foot the bill when starting a project. When is that method applicable as opposed to you paying out of pocket? Thank you!

Why are lawyer fees so costly? Seems to be too much for a basic property purchase

Great content

hi, i enjoyed your underpinning process! very informative and encouraging

It is easyer and cheaper to lift the house.

Thank you for such a clear & concise explanation-I appreciate you! Could you please discuss Allodial title in Costa Rica? If it exists & if it’s available to foreigners? Thank you!

Big fan of your content

RRSP

my family owns about 100 acres in the middle of an upcoming small city, Miramichi. It's in NB canada, trying to figure out the way to make the most money from the property

Well done and informative video-- What are the current rules in the US for Air B&B as far as "absentee owners" go ? Rules here now in BC Can. state owner must reside on the property as well --

Hi Darren I have been watching a lot of youtube on Property management, yours is by far the best . Would you please don one on Property management Software ? thank you

Great video. Thank you for sharing...!!!

Helpful video, tho all the camera angle cuts are a little distracting

How did you figure all this out? Amazing video btw

Great video. Have question. When you lower basement the sewer line can be lower than the city line. I understand you can install an ejector pump, but I've heard a lot of issues with the pump. Any other options you can suggest?