Canadians Investing in Florida Condos

(Montreal, Quebec)


I live in Montreal, Canada and I have 2 questions.

1) Is it worth buying a condo in southeast Florida and renting it out long term during these times?

2) I would like to buy a condo in Florida with my sisters for personal use. If I rent out the condo for part of the time, what would I be able to deduct on my tax return?

Also, is it better to file a US or Canadian tax return for these properties.

Thanks for your attention and your amazing website!


Comments for Canadians Investing in Florida Condos

Click here to add your own comments

May 28, 2010
RE: Canadians Investing in Sunny Florida, USA
by: Tom Karadza

Hi Nilda,

Thanks for your questions!!

Without much more background information about you and your goals this is a tough one.

1. I would say this ... it's never a good time to invest in anything unless you have intimate knowledge of the investment. So if you know the community, the State and the people there like the back of your hand...then you'll know if the community is in a growth stage or not.

We stay 100% away from properties in communities we don't have good knowledge of.

One bad property can ruin the positive returns of half of dozen good ones.

2. Taxes are tricky for Canadians investing in the U.S. and the U.S. laws will treat you differently than U.S. citizens and Canada will want some tax money too! So....start looking for an accountant that is certified in both Canada and the US and has experience with Canadians owning in the US. They will be the right source for this answer.

Thanks for the feedback and I'm sorry we couldn't be of more help on this!


Click here to add your own comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Submit A Question.


  Some Cool Free Stuff...

  Step 1:

Grab a free digital copy of our real estate investing book, Income  For Life For Canadians, right here. This book has been downloaded over 22,597 times and has helped hundreds of investors kick-start their investing with simple and straight forward strategies that you can implement right here in Canada.

You'll also receive our weekly [Your Life. Your Terms.] email newsletter with the latest investing updates and videos.

  Step 2:

Free Weekly Investing Videos & Articles: Get the latest updates and join the over 10,000 other Canadians enjoying the weekly [Your Life. Your Terms.] email newsletter. The email is sent out each Thursday. And as a little bonus we'll give a FREE digital copy of the book, Income For Life For Canadians, too!

Your Life. Your Terms.

  Step 3:

Free LIVE Investing Class: Do you live in the Greater Toronto or Golden Horseshoe Area? Come out to our next introductory "Investing in Nice Homes in Nice Areas" Real Estate Class.

Get all the details by clicking here.

It's 90-minutes and you'll learn a ton - promise!Thousands of investors have now joined us for this class and the feedback has always been amazing.

Click here to get book

This book has been downloaded over 22,597 times and has helped hundreds of investors kick-start their investing with simple and straight forward strategies that you can implement right here in Canada.

  Click here to subscribe