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Looking at buying a place in Chandler, Arizona

Q: We are looking at buying a place in Chandler, Arizona and have had negative feedback from our accountant only hearing about the possible problems. We have been thinking about it for 3 years and feel that now is the time before the market changes. We have decided on the complex we want and have been there 3 times. This will be a cash sale with us carrying no mortgage. We are still young and won’t retire for another 10 years, so will only be staying there 3-4 times a year. We are not sure about renting it out, and if we do it will only be for people we know from BC. I am interested in knowing about any potential problems we may have being from Canada with this purchase? Mainly on the tax issues and legal aspects. Will we be required to file a US tax return? Any info you can give us will be greatly appreciated.

A: I am glad you have looked along time, have assessed the ins and outs and compared prices.

In my newsletter I have stated that we believe 2012 will be the bottom for USA real estate.

We like Phoenix (I am investing there as well … and Chandler is a good area).

The best thing is to sit down with a cross border specialist and have him assess your total situation and advise you accordingly.

On February 4 we have a USA focused Landrush conference. A leading accountant is flying up from

Phoenix to speak at our event as well as 2 other speakers from the US.

Look it up here www.landrushcanada.com

About the Author

OZZIE JUROCK (FRI) is the author of Forget About Location, Location, Location. Ozzie Jurock is also president of Jurock Publishing Ltd.

Peter C. Newman in his book Titans called him a Real Estate Guru. Vancouver Magazine called him one of the 45 brightest people in Vancouver. Ozzie Jurock appears every 2nd Wednesday on Global TV News Hour. He also authored the book: Forget About Location, Location, Location and has written hundreds of published real estate articles in the Vancouver Sun, Business in Vancouver, the Globe and Mail, the Western Investor and dozens of magazines. (List of published articles.) Several thousand people have subscribed to his monthly and weekly newsletters Jurock Real Estate Insider and Jurock’s Facts by Email.

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