Flipping investment real estate in Canada versus flipping it in the US are two completely different mindsets. For various types of real estate properties, including houses, multifamily residences, and commercial buildings, the process involves purchasing, renovating, and selling them for profit in both Canada and the US.
That's the same. The biggest difference is that in Canada, there is a capital gains tax, which is typically around 22%, whereas the US offers the 1031 exchange program. This program enables investors to buy, repair, and resell properties tax-free on their personal property, as long as the profits are reinvested into real estate.
This program significantly benefits those who are investing in US real estate and allows them to avoid substantial tax gains on their earnings. Welcome to Canada. We hope you like paying taxes. Take care.