Tigran Zohrabyan wrote:

I was wondering if you could also provide some referrals for real estate lawyers who have a thorough understanding of the process and can offer guidance.

Regards
Tigran

Tigran,

For what it's worth, depending on how many properties you plan to acquire, you eventually will want to use corporations as you will hit limits with various lenders of what you can have in your personal name.  

Some lenders have door limits, some property limits, some DCR limits and others total mortgage limits/lender exposure.

With corporations you can segregate the view to each lender what you own vs what is in any particular corporation that you own. 

Again, you need a strategy and work with accountants/lawyers who understand what your goals/needs are so they can assist you along the way. 

Cheers

JRW

We have several rental properties that we would like to transfer from personal ownership to a corporation. I need advice on the aspects of transferring the properties and the tax implications involved.

Initially, we bought these properties with the intention of selling them when the market was favorable, but now we are inclined to expand our portfolio. Given the current interest rates, it doesn't make sense to keep existing and future properties under personal ownership due to the high tax bracket.

I am asking our club members for guidance or referrals to specialists with extensive experience in handling such situations.