026: How to Buy Rental Properties in the US While Living Canada with Anil Walia

On this episode of the InvestFourMore Podcast I interview Anil Walia. Anil is originally from India, where he invested in real estate, then moved to Canada where he invested in real estate and finally started investing in real estate in the US while living in Canada. I have many people from Canada ask me how to invest in US real estate because prices are so high in Canada. Anil discusses how he has bought over 30 properties in Florida with financing while not being a US citizen.

How did Anil start investing in real estate in India?

In this episode Anil discusses how he began to invest in rental properties in India. It was much different from buying properties in the US or Canada. Cash flow was very low and property values fluctuated greatly. When his children went to Canada to attend school he and his wife decided to move to Canada as well. While in Canada he started a real estate business and investing in properties in Canada. Anil then discovered the US real estate market and realized how much more opportunity there was to make money on rentals in the US than there was in Canada.

How did Anil start investing in rental properties in the US?

After seeing the tremendous rent to value ratios in the US, Anil started researching local markets. He looked at Florida, Las Vegas and a number of other markets that had great rental property returns. After researching areas of the country he settled on Florida as the place to invest. He spent time in Florida finding agents, contractors and property managers to help start his rental property empire.

After finding a team, Anil started to buy rental properties and he was astonished at the money he was making in the US compared to Canada and India. He began to plan how he could buy more rentals and build cash flow as quickly as possible. He figured out the best way to finance rentals which was not easy for a foreigner.

How was Anil able to finance properties in the US while living in Canada?

Anil admits it was not easy to find a lender who would finance his properties being a Canadian citizen. Most lenders will not lend to foreigners and that is a huge road block to buying properties in the United States. Anil was able to find local portfolio lenders who would finance his properties. Anil would take the approach of buying five properties with cash and lines of credit he had against his personal house and then he would refinance them with a local lender. By purchasing with cash, making repairs when needed and then refinancing the properties, Anil was able to get much of his cash out of the properties and repeat the process over and over.

Anil has purchased 38 properties and does not plan to stop anytime soon. He still sees opportunity in Florida with high foreclosure rates and great rent to value ratios. Prices have started to rise, but he thinks it is a solid market to invest in.

How can you contact Anil if you are interested in learning how to invest in US real estate from Canada?

Anil can be reached on his website: thewaliagroup.com. He has written a book on his investing strategies and loves to help people invest in US real estate from other countries. Anil is still investing in real estate and loves the passive income it produces, but it has not been easy. He has had to change real estate agents, property managers and contractors multiple times to find the best people for his business.