Windsor Ontario Canada Hustler, working on 2000 plus cashflow student rental property
ฝัง
- เผยแพร่เมื่อ 6 ก.ย. 2024
- Chat with a young Investor, regarding his first student rental property in Windsor Ontario
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First Real Estate Property Estimated 2000 pulse CashFlow at the age of 22 in Windsor Ontario.
I’m very impressed with Raymond’s Story, at the age of 22 after his graduation jumped in with both feet into Real Estate Investing, now he purchased a single family house in Windsor Ontario, currently doing significant renovations like Adding New Bedrooms, washrooms, New Kitchen and Ductwork and lot more, after renovations total 10bed/4bath
This Property is in the 1km radius of University of Windsor Ontario, so he plans to convert the house into a High-End Student Rental, projected rents an avg 550 per room with that his estimated Cashflow - 2000 per month, more than a base salary job
And he’s planning to acquire another similar property model by the end of the year
Which will make him 4000 a month in Cashflow (BTW 4000 * 12 = 48000 a year is a decent income for a 22 years old kid) what would you do if you have 4000 cash flow ???
He’s very confident about his future because he has Right Attitude, Networking with People who are doing what he wants to-do (Right People) and Having a Mentor who has done the same thing and achieved tremendous success.
Numbers on the Property
Purchase Price 240,000
Renovation Cost 60,000
After Repair Value Estimated 350,000
If he Refinance it he can pull 350,000 * .80 = 280,000 out
Money left in the project: 20,000 (20% of ARV) + 5000 (closing cost) = 25000
Gross Income - per room 550 * 10 = 5500 per month (has potential to collect even more, this is just a conservative number)
Estimated Expenses: Mortgage - 1200, Taxes - 150, Insurance - 150, Utilities - 500, Repairs - 200 Future Ex - 300 Total 2500 (This are conservative number tho)
CASH FLOW = 2000 a month
Property Walkthrough 22:00
3 Key Takeaway from this Interview
Have the Right Attitude
Network with Right People
Have a Mentor
Raymond’s Mentor Jon Seguin from SEDA Developments check out this Interview with
Matt McKeever
Here: • Video
Say Hi to me on Social Media
Facebook: / adityakumarsoma
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Books
The Richest Man in Babylon
Rich Dad Poor Dad by Robert Kiyosaki
Think and Grow Rich
Rental Property Investing by Brandon Turner
Social Media Websites that can help you regarding Real Estate
www.biggerpock....
reincanada.com
Remember: Formula for Success RAN(do RESEARCH, take ACTIONS and NETWORK with right people)
#RealEstateInvesting #CashFlow #StudentRental
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Please watch: "how many properties can I buy with 5% down payment?"
• Can I buy Multiple Pro...
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Property Walkthrough 22:00
Thanks for watching! Wish this young gun good luck and let me know if you have any questions in Comment below :)
Great video. did he manage to refinance it? I heard one thing with student rentals is it's really hard to refinance it to a value that's high enough to pull out the majority of capitals put in.
Thank you very much for sharing, it’s really inspiring to know about his first deal @22 age.
Raymond your everywhere! Glad see your sharing your experience with others. Than you both very much.😀😀
Noel Bissoondial Thank you for watching 😊
Great Inspiration Video and Thanks alot for sharing with us and hope to get more from you .
Glad to hear 😊😊
Congrats on your success Raymond. Great morivation! Thanks for posting the interview.
You're welcome Don 👍👍
Hey Aditya. I was in Windsor from Toronto for the thanksgiving. Really considering relocation. Great weather and small pretty city
Sam Balogun awesome 👏🏻
If you need any help with purchase feel free to reach out to us
Would be great to see an update of the building and the financials now that its a few months in.
Sure I will get the updates from Raymond and will post it soon
Hey Raymond, I used to live in North York, Toronto renting a very small room just to save for my future business. And I believe we have similar foresight. I just bought a house last year here in Windsor, 5 minute walk to UW for a student rental business.I live in this house and renting out all tje other rooms.. And I'm planning to expand the business like you..Do you have a group where I can possibly join as business investor?
I still haven't watched my own video yet
Can you help me buy a cashflow property ?