Shlomi Steve Levy was recently interviewed by Susan Goldberg for an article which appeared on Advisor.ca. In the article, Susan and Shlomi review various options available for Canadians who already own US Real Estate. The article shows how the falling Canadian dollar may benefit Canadians who have already invested in the US market by following one of these four options: sell, rent your place, refinance or downsize.
Click here to view the article online or scroll down to read an excerpt from the piece.
Low loonie = opportunities for U.S. real estate
January 28, 2016
Those who bought U.S. real estate when prices were low and the loonie was strong now have potentially lucrative options when it comes to their warm-weather retreats. Here’s what to tell clients who have American properties.
Option A: Sell
Say you paid cash for a Florida condo five years ago for US$100,000, when the loonie was at par. If you sell for US$200,000, not only do you make US$100,000 in profit, but with the Canadian dollar worth 70 US cents, you’ll gain an extra CA$86,000 when you convert that US$200,000.