British Columbia Company First to Provide Local U.S. Rental Market Support to Canadians

by Chris on June 20, 2011

Canadians have a unique opportunity to take advantage of the great deals currently available in the U.S. residential real estate market, but need to carefully assess their options and approach to avoid making costly mistakes, says Troy Peterson, Director of U.S. Operations of Vancouver-based Aperture Investment Group Inc.

Aperture Investment Group is the first Canadian company with a Vancouver-based office dedicated to offering a full suite of services to help Canadian investors make well informed decisions for their purchases in the U.S., whether they are looking for a rental income stream, or to purchase a second home or recreational property.

Aperture will provide  the support Canadian investors need on the ground in the U.S. to identify and purchase properties and, if desired, to rent out and manage properties to meet their investment goals.

“Many analysts say that the market has never been this favourable for Canadian purchasers, but that the window of opportunity may be narrow,” Peterson says. “If the U.S. housing market recovers, the Canadian dollar weakens, or interest rates in Canada go up, then the opportunity will become less attractive.”

Peterson adds that there are currently good quality houses available at foreclosure auctions or REOs priced from US$50,000 to $90,000.  At the peak of the market, these houses were selling for approximately two to three times their current price. They can currently be rented out for US$800 to $1,000 gross rent per month.

A recent survey from the U.S. National Association of Realtors found that Canadians were the largest buyers of U.S. real estate in the 12 months ending March 31, accounting for $9.4 billion in purchases, representing 23 per cent of all sales to foreign investors.

Aperture plans to open additional local offices across Canada and internationally to provide support to local clients in purchasing and maintaining U.S. real estate. Ultimately, once the U.S. real estate market is solidly in recovery, Aperture plans to develop properties and communities that are uniquely tailored to the needs and tastes of retiring baby boomers in strategically desirable areas.

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Disclaimer: The information provided in this post in not intended to be construed as legal advice, nor should it be considered a substitute for obtaining individual legal counsel or consulting your local, state, federal or provincial tenancy laws.

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