Hello Amit and Big Vee
I became a permanent Canadian Resident on 7th March this year, stayed in Toronto for 3 months, and left, with a plan to return. I am interested in REI; I have experience of this in Dubai; I think it was like a lottery for me; just shut my eyes, bought a couple of condos in Dubai, whose price sky-rocketed, and I was laughing all the way to the bank. From my experience therefore, I know that REI can be hugely profitable. However, I also know that it can burn a sizeable hole in your pocket. I am trying to be very clever and very careful therefore, and am researching various types of real estate. Basically, I want to live off my investments in Canada, and I am looking at two things: real estate, and franchising. Any views would be greatly appreciated. Big Vee, I have no idea about Industrial RE. I am very keen to hear about this.
Nice to here from you Gulam and wish u good luck in Canada as well.
Well guys (amit, Big_vee, Tamtram),
Please accept my dumb question in this line.
I am trying to interepret the detials posted here as layman and the following are my questions.
1>Investing in Real Estate (Residental or Industrial) - does this mean you r buying the property physicall or on just paper?? (i mean gold stocks or futures..they are virtual but not physical)
2>I guess you guys are taking bank loans to buy these properties, hence how do one can buy multiple properties where you credit history (tax returns) does not allow more than one home?.
If the above is not true, how do one buy these properties just like that?? like do we need to open a real estate company where banks will give loans??
rgds
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MK
Quote:
Originally posted by Gaulam
Hello Amit and Big Vee
I became a permanent Canadian Resident on 7th March this year, stayed in Toronto for 3 months, and left, with a plan to return. I am interested in REI; I have experience of this in Dubai; I think it was like a lottery for me; just shut my eyes, bought a couple of condos in Dubai, whose price sky-rocketed, and I was laughing all the way to the bank. From my experience therefore, I know that REI can be hugely profitable. However, I also know that it can burn a sizeable hole in your pocket. I am trying to be very clever and very careful therefore, and am researching various types of real estate. Basically, I want to live off my investments in Canada, and I am looking at two things: real estate, and franchising. Any views would be greatly appreciated. Big Vee, I have no idea about Industrial RE. I am very keen to hear about this.
Quote:
Originally posted by mkannuri
Nice to here from you Gulam and wish u good luck in Canada as well.
Well guys (amit, Big_vee, Tamtram),
Please accept my dumb question in this line.
I am trying to interepret the detials posted here as layman and the following are my questions.
1>Investing in Real Estate (Residental or Industrial) - does this mean you r buying the property physicall or on just paper?? (i mean gold stocks or futures..they are virtual but not physical)
Quote:
Originally posted by mkannuri
2>I guess you guys are taking bank loans to buy these properties, hence how do one can buy multiple properties where you credit history (tax returns) does not allow more than one home?.
If the above is not true, how do one buy these properties just like that?? like do we need to open a real estate company where banks will give loans??
rgds
Hi! Guys,
That's some good discussion. Thanks big V for breaking the ice. As your name suggest BIG V, you are indeed BIG in REI
I truely believe in creating wealth through real estate. I have more than one rental property (I want to keep the no. confidential ) not including the principal residence. I do pure residential sales plus cater to condo investors in particular.
Personally, I am not into the business of flipping, like some of my other successful clients. Holding assets for their appreciation, paying down mortgage, availing tax benefits and regular rental income are my primary objectives.
Qualifying good properties with better rental returns in the GTA is a big challenge these days, in my opinion.
Thanks,
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Amit Kalia, Broker, REALTORĀ®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Quote:
Originally posted by Gaulam
Hello Amit and Big Vee
I became a permanent Canadian Resident on 7th March this year, stayed in Toronto for 3 months, and left, with a plan to return. I am interested in REI; I have experience of this in Dubai; I think it was like a lottery for me; just shut my eyes, bought a couple of condos in Dubai, whose price sky-rocketed, and I was laughing all the way to the bank. From my experience therefore, I know that REI can be hugely profitable. However, I also know that it can burn a sizeable hole in your pocket. I am trying to be very clever and very careful therefore, and am researching various types of real estate. Basically, I want to live off my investments in Canada, and I am looking at two things: real estate, and franchising. Any views would be greatly appreciated. Big Vee, I have no idea about Industrial RE. I am very keen to hear about this.
-----------------------------------------------------------------
Amit Kalia, Broker, REALTORĀ®
RE/MAX Real Estate Centre., Brokerage
independently owned & operated
100 City Centre Dr, Unit 1-702
Mississauga, ON L5B 2C9
Phone No.: 905-339-5111
Website: https://www.realestate-ontario.com/
Condo Blog: https://condopundit.com/blog/
Hello and thanks mkannuri.
Big V, I would have to agree with Amit Kalia: the REI in Dubai is pretty scary. I just did not feel comfortable with it. Dubai is mostly glitter where expatriates, and particularly Desi expats, have NO ROGHTS AT ALL. Any of a number of things could happen, including political instability, Real Estate bust, a shifting of the goalposts for expats.
mkannuri, there are many ways of REI in Canada; e.g REITS. Then, REI can be for capital appreciation, or it can be for cash flow. I am looking at a mix of all this. Eg, a principal residence for self and family, and then rental property. Big V and Amit can enlighten us what is the most hassle free rental property? Residential, or Commercia/Industrial?
By the way, we can carry on this discussion here for the benefit of others interested viewers, but no harm in e-mail contact if we want to discuss some boring detail.
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