Retail Stores, Student Rentals and Rent-To-Own with Nadeem Ahmed

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Podcast Transcription

Georges El Masri [00:00:01] Welcome to the Well Off podcast, where the goal is to motivate, inspire and share success principles. I’m your host, Georges El Masri thanks for tuning in. And on this episode, I interviewed Nadeem Ahmed, D-Md., told me a little bit about his story, how we started off in retail used to own some menswear shops. I think he said he owned three of them and then ended up selling them and reached out to a friend who was a real estate investor and then ended up working with him. So that was his start to investing. He does a lot of student rentals, rent to own, and we kind of broke down those markets. We talked about purpose built student rentals and then also purpose built multi-unit properties. So if you guys are interested in this stuff, student rentals specifically and then you want to learn a little bit about the rental own process, what it’s like to vet some of these tenants, how to make sure that your students are paying rent, that sort of stuff. I think you you’ll find a lot of value in this episode. And if you do, make sure to share it with a friend or family member and also leave us a review on the Apple Podcasts platform if you want to connect with me. For a well-off dossier and then book a call or feel free to follow me on Instagram while off, I’m happy to connect and talk about some of the opportunities that I have in the Niagara Region of Ontario. So there you go. Enjoy the episode. All right, I’m here with Nadeem Ahmed, Nadeem and me. We used to work together when I was at rock star Real Estate. He actually showed me like, you taught me a little bit about student rentals and like different things at that time. So thank you for joining me today. It’s nice having you here. So I like to start off by asking you a little bit about your childhood when you grew up in one or two things you remember.

Nadeem Ahmed [00:01:46] Yeah. Born in Hamilton? Really? Yeah, OK. Born in Hamilton. Um, then grew up in Mississauga. Um, spent most of my life there. And, uh, in China, some part of my life in the thirties and then back in Mississauga again still there.

Georges El Masri [00:02:03] So, OK, so Mississauga Hamilton. Tell me a bit about your journey. Like, how did you get into investing? What got you into it?

Nadeem Ahmed [00:02:13] The funny thing is, actually, I’m working a rockstar, and when I joined Rockstar 10 years, I didn’t have any investment properties and just didn’t know anything about it. And it’s just funny how I ended up here. Actually, I was working in retail in the 90s, and then at mid-nineties I decided, Hey, you know, maybe it’s time that I started doing my own retail. So I opened my own store at Lawrence Square in 1995 in Toronto menswear store, and it did really well. And then the two, about three years later, I decided up another store in Bolton and called an area and there was a men’s and women’s clothing store. And did really well, it just grew with it and had another storm, Mississauga, a couple other locations and just did really well and eventually to 2010. One of my former employees decided to make an offer on purchasing one of my stores, and I was like, Well, you know, it’s not nothing I’ve ever thought about doing besides retail. This is what I do. And so she gave me an offer I looked at as like, Wow, OK, this is crazy. This is really good. Good offer. So I called up one of my good friends, Mike Dzamara, the rock star, and they said, Hey, Mike, what do I do? I do I sell this? Or What should I do if I if I sell? He says, you know, sell the store, come work with me a rock star, join us, a rock star. So I said, OK, what? What is rockstar, right? Yeah, they’re fairly new that time, too. And so I did some, uh, just look them up what they do and stuff and came and met Mike and met Dominic and saw what they were doing is amazing, right investments myself. Tom had asked me, Hey, maybe honey, why don’t you buy investment properties? Well, one reason was I never knew how to. Hmm. And that’s what I liked about rock stars. Like, you know, from the time that you walk into the front door for your first training and your one on one meeting with your coach, you’re taught pretty much everything. So everything’s under one umbrella. Hmm. You know, anywhere from, you know, paralegals, which are a big part of our investment journey banks for lending lawyers, accountants. So everything’s all under one umbrella. So that was really helpful. Yeah. Joining a brokers like this?

Georges El Masri [00:04:38] So how did you? Would you remember when you bought your first place and like, do you remember what you got into at that time? Was it a student rental?

Nadeem Ahmed [00:04:46] Yeah. My first property, they got involved for investment was in Bowmanville. It was a single family home. They had a rent to own tenant who committed to buying the house, and he did a nice down payment as like, Wow, this is really good. This is good. And so he did the program rental program enough, but unfortunately he didn’t end up buying. So he ends up continue renting for the three years, I believe. And after the three years when he left, I had built up enough equity that I decided to maybe go to the bank and say, You know, I have all this equity, what do I do with it? And so that’s of equity, and I renovate the house that that I was renting and then ended up doing another purchase for that money. Hmm. And the same house got another renter and then another rent to own program. And finally, that rented didn’t pan out either for purchasing, so ended up having built up more equity. And after a couple of years, ended up just renting it straight renting and just pulling the money out, equity out, just leveraging each tenant and buying more. Yeah, yeah. And so I started building a portfolio from there. Cool.

Georges El Masri [00:06:02] I like that. You see, unfortunately, because I think there’s this like negative connotation around rental, and some people think that investors are trying to take advantage of people and they don’t want them to ever buy the house. But I know a lot of people actually want them to succeed. Of course you want them to complete the program. And if anyone’s interested in learning more about rental and we’ve covered it on two episodes in the past so you can dig those up and listen to those. Are you still doing with clients or even for yourself? Are you still doing rental owns at this time?

Nadeem Ahmed [00:06:29] Uh, not recently, but up till last year, yes, was just the market has been very erratic to even, you know, pinpoint and narrow down a price point for their future buys. So I have kind of slowed down on it and not really encouraging it right now, but it’s definitely something that I would definitely look at again because it does definitely help. The first time homebuyer get into a home, it does, as an investor, help you build some equity. It’s kind of your br without lifting a hammer. Right? Because in three years you haven’t built up this equity. And if this this capital that you can, you’re going to get money out of.

Georges El Masri [00:07:01] Yeah, yeah, yeah, for sure. Because I know when I was working with you at that time, you were still really active. This was maybe around two years ago. A lot of your clients were still doing rent to own. Yes. But like you said now, because the market is appreciating so quickly, it’s hard to predict what price you should be selling it for. So what have you been shifting over those clients? What investment strategies?

Nadeem Ahmed [00:07:25] So the other investment strategies I really like personally and is student rentals, finance students. If you have parental guarantees on leases, they do focus a lot on university students like Brock, Western McMaster. Those students are committed to it. Education. Sure, they’re going to have their parties on the weekend, but end of the day they are responsible. I have myself, my own student rentals that I’ve had. I’ve never had any issues. You know, smaller, small issues always come up with any, any rental property, but that’s pretty much it. There’s a bit of a myth on student rentals.

Georges El Masri [00:07:58] Yeah, so. Can you talk about that a little bit like what are some of the fears around owning student rentals

Nadeem Ahmed [00:08:03] so people fear that you know they’re going to destroy the house, they’re going to, you know, damage the damage the house, you know, burn down the house, basically. But if you have if you have it properly managed, which is a key, it’s hard to manage just a rental without management because you’re not there on a daily basis or weekly basis. Property management companies make sure that, you know, for example, I was at a property yesterday where it wasn’t being managed and that the neighbors are complaining that, you know, garbage gets rolled over. That’s on the street. We got to clean it for them. So when you have a property manager, like, that’s something that they had, he would be responsible making sure that the kids do because kids, when they’re 18, 19 years old and getting out for the first time are not going to be very responsible. Yeah. Not all of them, anyway.

Georges El Masri [00:08:44] When I was when my cousin was in university. So I’m like two years older than him. I remember I went over to his place. He was living with like three or four other guys, and their house was so disgustingly dirty they had pizza boxes on the floor like laid out because it was for the snow. You know, I think you’d walk with your boots, right? It was so nasty.

Nadeem Ahmed [00:09:05] You see Lucy that we’ve seen we’ve seen everything. Yeah, but end of the day. Elsa, what the way I look at my investment properties and I would suggest to my clients is, you know, if you respect your property, the tenants will respect the property. So, yeah, they’re not going to be scrubbing your appliances and deep, deep cleaning. Yeah. But for that, if you send in a cleaner every four weeks, five weeks, sure, it’s an expense. But again, it’s your business, it’s your house. You’ll keep her for a long time. Yeah, invest in it, right? Send a cleaner and clean because yeah, kids will vacuum and maybe they’ll do a little bit of dusting and stuff, but they’re not going to scrub toilet bowls, right? Do you do

Georges El Masri [00:09:41] you bill build the cleaning fee into the rent?

Nadeem Ahmed [00:09:47] Yes. Not all the time, but yes, we have done that before. Yeah. An extra 25 bucks a month.

Georges El Masri [00:09:52] OK. So what is it? Cost usually for the cleaner?

Nadeem Ahmed [00:09:56] It was about 150 for me. I know it’s gone up, but now because of everything happening. It’s about 200 Bucks student quarter.

Georges El Masri [00:10:02] OK, so let’s say roughly you’re spending two hundred bucks a month to have the place clean. But like you said, you factor that in into your payment because your cash flow on student rentals is typically higher. Yeah. Let’s see. Somebody is getting into a student rental today. What kind of cash flow are you seeing? What’s the purchase price? What are the rents that you’re looking at and the cash

Nadeem Ahmed [00:10:20] flow, persistent rentals that I’m working on right now? Currently, the range price point from 750 to 850. Cash flow is definitely a little tight right now, but the market is right now. I think your appreciation is your cash flow. Yeah. Take advantage of that as things progress. And yeah, increases happen, though rental increases are or where you put them in now. So, yeah, your balance out, right?

Georges El Masri [00:10:47] So your spending and

Nadeem Ahmed [00:10:48] your cash flow does increase after a couple of years anyways, when you start paying that more equity in your mortgage rate?

Georges El Masri [00:10:53] Yeah, yeah. And naturally, rents have

Nadeem Ahmed [00:10:56] been going have been going up.

Georges El Masri [00:10:57] Yes. So you’re spending seven hundred and fifty thousand up to 850000 right now in which markets are you talking about in the region like the world’s baroque?

Nadeem Ahmed [00:11:06] Yeah, I actually did one recently in Kingston Queens.

Georges El Masri [00:11:09] OK, Queens Kingston. So Brock is called St. Catharines area, correct? Yes. Yeah, yeah, those are the primary areas

Nadeem Ahmed [00:11:17] in western London, London. Hamilton not been such, so, so lucky recently because as the prices have just really escalated there, but Hamilton is also very good. Yeah.

Georges El Masri [00:11:28] So that’s like, let’s say you’re looking at world, for example, is that closer to 750 or are you closer to 850?

Nadeem Ahmed [00:11:35] Depends where you are. Yeah, an older home, probably with seven 750 like winter berries and popular street for student rentals. We’re looking at 850 900 right now. Yeah.

Georges El Masri [00:11:43] A recent survey. How many rooms are you getting?

Nadeem Ahmed [00:11:45] Usually a five to seven, five

Georges El Masri [00:11:46] to seven rooms? And are they usually like, do they need work in the 850 price range or wow?

Nadeem Ahmed [00:11:52] Most of them are turnkey.

Georges El Masri [00:11:53] Turnkey. OK. And what are you getting per room, sir? I don’t know if you ready.

Nadeem Ahmed [00:11:57] Yeah, about 700 to 750.

Georges El Masri [00:11:59] OK, seven hundred times, let’s say five. You said yeah, five rooms. So was that 3500 telephone number?

Nadeem Ahmed [00:12:06] You’re looking at a lower price point about seven or seven fifty max.

Georges El Masri [00:12:10] And what would be typically the cash flow on that number, like roughly

Nadeem Ahmed [00:12:14] about five hundred five. And that’s my target. Always, constantly cleaning. Yeah, the cleaning fee.

Georges El Masri [00:12:18] Yeah, yeah, that’s pretty good like that. That’s not that easy to find any more to get five hundred dollars a month. So being using like student rentals, that’s pretty good. I know it used to be 4000 plus. Oh yeah, a couple of years ago.

Nadeem Ahmed [00:12:29] I’ve done quite a few in the past, but even three or four years ago or over a thousand dollars? Yeah, monthly cash flow. But yeah, it’s a little different now. Yeah.

Georges El Masri [00:12:38] What about so yourself? Are you still actively looking for student rentals or like, where are you at right now with your investor?

Nadeem Ahmed [00:12:46] Just recently, I’m closing in the property with my brother, actually in St. Catharines. That’s a semi-detached, uh, just buying home. I’m looking for anything I can buy at a reasonable price where I can just break even again. Like I said to me right now, it’s the old traditional investing is you buy a property and let the equity build. Yeah, right? Cash flow is just a bonus. Appreciation is a really good bonus right now. So factoring in all that, yeah, and my main focus is always if I can find a decent property where I know for a long time, I can hold it. Yeah, so single family home, just renting it.

Georges El Masri [00:13:22] So you’re just doing a straight single family, this particular purchase? Yes, and it’s still breaking even. Yeah, OK. And is that like with 20 percent down that you’re able to do? Yeah, that’s pretty good in St. Catharines. Yeah, interesting. Like that’s a myth. I think a lot of people don’t believe that you can buy a single family home now and make it cash flow, but I think it’s still possible. It just depends on the market, the area, the amount of rent that you’re getting.

Nadeem Ahmed [00:13:45] Don’t forget, the rents have gone up tremendously. And what I’m finding just even helping some clients out renting properties, we’re getting a lot of renters coming into the market now because the sellers are selling their properties and people are buying it from all over Ontario to move in and live in them. So investment properties are getting lesser and lesser. There’s more renters out there because people need a place to live. So people are, for example, I had another transaction, I was listing it and the buyer sold their property in Toronto. I’m not sure exactly where, but this all that. They made a good chunk on it and they came into Niagara Region and they paid well above asking because it was still half the price. What they sold theirs. So they just wanted a home to live in.

Georges El Masri [00:14:28] Yeah, so I know it’s very common now. Like, I’m seeing that because I sold one of my places and Hamilton and the buyer was from Toronto and they were just like, there’s nothing even close to this price point in Toronto right now. So I will gladly pay well above the asking price to get into this market, right? And to be honest, she’s probably done well, like she closed a couple of months ago, and I think that the value has increased quite a bit there. So, yeah, yeah. And do you hold on to all of your rentals or like, are you potentially selling some and then

Nadeem Ahmed [00:15:00] have been I’ve been holding on since the last nine years since I’ve been investing. I’m really tempted, to be honest with you. One of my properties, it’s kind of like the have always had some issues with it. Some thinking, Do I, you know, cash could make my life a little bit easier or do I just hold it and just be patient and let it grow more? So it’s kind of a crossroads, because right now the values are good, right? Yeah.

Georges El Masri [00:15:24] Yeah, it’s kind of it’s hard because sometimes you also think I could just refinance this and keep it. But yeah, I mean, at some point you have to decide whether the property still fits the portfolio. And I just actually spoke to Nick and he was basically saying, like, I don’t I’m not really interested in selling my properties. I keep them. But again, everybody’s in a different place and it depends where you’re at. Um, what is real estate investing done for you personally? Has it changed your life in any way? What kind of impact has it had?

Nadeem Ahmed [00:15:51] So being self-employed for pretty much all my life, the first 15 years of my life, I was in a different, different field and living comfortably, but just paying bills. And once I’ve started investing and growing my portfolio, I’m starting to live as a star logo. Is your life, your terms, and I’m starting to see that come through for me and where I’m actually more, where I’m actually able to enjoy the good things in life and, you know, live my life on my terms.

Georges El Masri [00:16:24] Just out of curiosity, what does that mean for you? Like what in what way are you living life on your terms?

Nadeem Ahmed [00:16:29] Well, just a bit more like I said, being able to enjoy good things in life that, you know, that was not I was not able to do for more time with my family, my daughter. So just more just feeling more in

Georges El Masri [00:16:42] a better place. Yeah, yeah. Um, what advice do you have for investors? Maybe somebody who is kind of in a position like you where they’re working? They were working a job and maybe they’re not happy and they want to get into real estate investing. What advice do you have for those people

Nadeem Ahmed [00:17:01] right now in today’s markets? See if you can just find something that you can buy that’s not going to bleed you, that’s going to make you help you grow. Just secured a property right now, and after my very first property, I really didn’t use my own money. I leveraged always. Yeah, and that’s one advice I can give. Somebody is to try and buy a property. Yeah, piece of a property. What’s going to help you build equity and help you with you? Again, this is not a this is not a quick, quick scheme. It’s an it’s a long term plan. Yeah, I usually use three years increments to see where I’m at, um, for myself and for my members and start building our portfolio that way. So we’re just at this point in. If you can just find this off a property, buy and hold.

Georges El Masri [00:17:46] Yeah, a couple of years ago you were looking into or you were working with a developer that was specializing in building like legal triplexes. I think at the time, like purpose built triplexes.

Nadeem Ahmed [00:17:58] Yes, I’ve been working with a couple of builders, but three builders in the Niagara Region, they do purpose built student housing multi units. Yes, so that’s what I’ve been working with, yes. Well, Stuart, rentals and multi units, yes.

Georges El Masri [00:18:13] Can you tell us a little bit about that? I think the projects that you were looking at the time, there were a little bit pricier than, you know, the older homes in the area. But you were and you were able to get some pretty good rents there. Yeah.

Nadeem Ahmed [00:18:25] Um, so just for example, the student rental, we were building student rentals with their own washrooms. So getting from, you know, at that time, rents were about 15, 500 to 600. We’re able to get 700 to 750 at that time because you’re getting building a nicer home higher, higher up for a purchase price point, but you’re also generating more rent. Mm-Hmm.

Georges El Masri [00:18:49] Right. Is that something that you ever thought about getting into building, developing new construction?

Nadeem Ahmed [00:18:55] Yeah, yeah, I have actually. I did buy a property close to Broch just after COVID started. And at that time, I thought my goal was to knock it down, demo it and build. But because of cost of construction, everything that kind of went up and I decided, just hold. I have a renter that’s renting, paying, paying rent on time and covering my expenses. So I mean, just buying a home. It’s got a lot where I can probably build a semidetached, semi-detached two or three townhouses. Mm-Hmm. So that’s my next step is actually I’m going to actually start looking into it for this year.

Georges El Masri [00:19:35] Yeah, that’s awesome. The last time we spoke, which was a couple weeks ago over the phone, you had said that that developer that you were working with, they don’t have anything new coming up. Is that because of the challenges with finding land or is it the challenges with just building in the first place?

Nadeem Ahmed [00:19:51] So what I a feedback I got from one of them was that the all the time and effort and money they spend, they’re able to just sever the lots and sell them and make just as much at this point. Yeah. Interesting. So they’re like my one of the guys that I work with. He’s sold off about 20 20 lots in the last year and a half

Georges El Masri [00:20:09] because there seems to be like there is a big demand for that sort of thing. I think if you have purpose built rentals, especially multi units, I think somebody can make quite a bit of money that way. But for some reason it’s just like you don’t see that too often. It’s very rare to take one cross an opportunity like that, right. Yeah. Why do you think that is in your opinion?

Nadeem Ahmed [00:20:28] Sorry, I missed the last part there.

Georges El Masri [00:20:30] Why do you think like developers aren’t building more of these multi units of new builds?

Nadeem Ahmed [00:20:34] It just cost yeah, to this cost yet. I am working with somebody right now who’s building 60 homes, purpose built student rentals, and I was actually on the site yesterday. Um yeah. A great project right near Brock University of Glendale. Yeah. Price pricier, much higher price points than we were used to. Yeah, the purchase price by the numbers at softball will bounce because they are getting higher money for rent. Like I said, the students are being built with each bedroom, comes with its own bathroom and COVID now that we’ve all been through. I’m sure parents would like to have their kids not being sharing, not sharing bathrooms and so they have their own, so they’re paying. They expected on this one is about 800 Peru nice and I think they’ve already leased more than half of them.

Georges El Masri [00:21:21] That’s pretty crazy when you think like just room because a couple of years ago, you can rent a basement for like eight hundred bucks and one room for that price.

Nadeem Ahmed [00:21:28] But you get in your bathroom and it’s in you. It’s, you know, higher ceilings, you know, more windows. Yeah, better quality product.

Georges El Masri [00:21:35] So how do you can you break us break down a little bit of what it’s like to own a student rental, managing it on the day to day? I know you kind of touched on an earlier having the cleaner come in. How are you vetting these students? Are you doing that yourself or do you have a property management company that’s finding them for you?

Nadeem Ahmed [00:21:49] I do them myself. But also, how do I do have some relationships with property managers in the Niagara Region? And so they’ve been helping out what the end of the day it’s about. The character of the student is based basically on, uh, character students are wrong. Word to say parental banking. OK, the parent. If we get parental guarantees on leases, that’s over.

Georges El Masri [00:22:14] So what does that really mean, though? If you have a personal story, a guarantor on a lease, if the student doesn’t pay, are you able to pursue the parent’s credit score? Like, can you impact their credit score or how does that work?

Nadeem Ahmed [00:22:26] So personally, I have not had ever not had that situation. Yeah, yeah. I’m assuming that that’s why you would be you would be doing

Georges El Masri [00:22:34] OK, OK. So yeah, you get that on every single student list that you have. Yeah. And then if you ever have issues, you call the parents and be like, Hey, this is what’s up.

Nadeem Ahmed [00:22:42] So one issue that we had or I had one of my properties was a kid. He drove home late at night and he didn’t stop. He went right to the garage door. And so the next morning, when the students reached out, and so we got in touch with the kid who did that right away. OK, we’re going to call you, dad, and you know, we’re going to build on his credit card and he’s like, Oh, no, no, I’ll pay for it. I’ll pay for it. So that’s like the worst case scenario that I’ve ever come across.

Georges El Masri [00:23:10] And what’s it like with the eviction process? If you have to, let’s say you have a student that’s not paying you reach out to the parents they’re not answering. Have you ever been through that?

Nadeem Ahmed [00:23:18] I haven’t. But again, it’s part of our business. I do. I am familiar with it. We do have, um, proper legal teams in place or we reach out to them and they do.

Georges El Masri [00:23:30] You have to evict them like you would any other tenant or is. It’s no different.

Nadeem Ahmed [00:23:34] It’s just because you’re part of the interior residential lease. Yeah.

Georges El Masri [00:23:37] So you’re looking at, well, like depending on how things go, but it could be six months, potentially before you get the sheriff over to kick them out. Potentially, yes. Yeah, potentially. Yeah, OK. I didn’t know. I didn’t realize it was like that. Yeah, OK, so how do you how are you vetting these students? I know you said you get the personal guarantee. Are you doing Facebook market ads? Are you putting? How are you finding them and how do you get them?

Nadeem Ahmed [00:24:00] Uh, I do. A lot of I still, to this day, use a lot of CG, OK? I find there’s less traffic with less advertising, but still more, um, more people looking. Mm hmm.

Georges El Masri [00:24:11] So just CG. That’s it. Yeah, OK. When somebody reaches out, then what do you do? Like, do you have a list of questions that you normally ask them? Or do you bring them to the Rob Break?

Nadeem Ahmed [00:24:19] I prefer bringing people in. Yeah, into the property again. For me, it’s always the paper tells you one thing, but it’s also my gut feeling. Yeah, my gut instinct is I rather just meet the people in person and feel them out.

Georges El Masri [00:24:31] Yeah. And you’re doing all that yourself? Yep.

Nadeem Ahmed [00:24:33] Wow, yeah, yeah.

Georges El Masri [00:24:34] How do you have the time? Like, I know you got a lot going on. You got your own student rentals, but you also have your clients that you’re working with. How do you manage your time for all this?

Nadeem Ahmed [00:24:43] Oh, it’s fine. So what I what I do is I try and plan my days where I’m going to be for work at the same time. At the same time, I try and book personal appointments. It seems like just right after this interview, I’m going to see some properties. And after that, I have one of my properties that I have to show some rentals I booked them for tonight.

Georges El Masri [00:25:02] Yeah, that actually makes me think, how are you finding opportunities these days? Obviously, everybody right now we know that there is kind of a shortage of opportunities. You have to kind of create opportunities in this market. So what are you finding you’ve been successful with and finding good, good deals for, for clients and for yourself?

Nadeem Ahmed [00:25:24] Good deals are deals that.

Georges El Masri [00:25:28] Makes sense.

Nadeem Ahmed [00:25:28] Yeah, it’s again, it’s about doing it, doing it, doing your numbers right there, your number crunching and so deals, I don’t know if there’s any good deals. Sometimes, yes, there are properties that that have more potential than their than their words. For example, you know, doing a burp, for example, where you’re able to buy a home and do upgrades to it, maybe add a second suite and make the value hire. Mm hmm. OK, so sorry, one more thing. And then looking for properties, it’s very hard. It’s very difficult right now because it’s not known how many properties available in the market but looking for a property that may have a lot. Were you able to cover it and get some value there?

Georges El Masri [00:26:11] Right. And these are still student rental properties that you’re talking about or you’re talking about just

Nadeem Ahmed [00:26:15] any, any home? Yeah.

Georges El Masri [00:26:17] OK. Are a lot of the people you’re working with? Are they looking for student rentals or are a lot of them looking for just a standard single family rental or duplex rental?

Nadeem Ahmed [00:26:25] Yeah, it’s a bit of mix of everybody. Everybody has their own there and what they like. Yeah, we get, we show them or I show them what? What works? This is what you can get. What the single family home. This is where you can get for multi-unit. This is where you can get for a student rental or just a buy and hold.

Georges El Masri [00:26:42] Yeah. What are the numbers you’re seeing right now for single family? Like the one you said you recently purchased single family and you said it breaks even what kind of price point was that

Nadeem Ahmed [00:26:55] 750

Georges El Masri [00:26:56] 750 and the rent you’re expecting twenty four hundred two thousand four hundred? That’s pretty good. Yeah, this one must be in a good area.

Nadeem Ahmed [00:27:02] Yeah, it’s actually, uh, it is. It’s North St.

Georges El Masri [00:27:05] Catharines, North St. Catharines. Yeah, that was one thing that you kind of help me with at first. You would you kind of showed me which areas to stay away from for free rent to own specifically. But I know that you were saying in St. Catharines, if you’re north of the UAW, usually you’re getting pretty good tenant, correct? You’re getting like a higher quality profile, that sort of thing. Are there any areas like that that you would recommend for maybe well and or yourself?

Nadeem Ahmed [00:27:31] Well, and have not done too many, uh, mostly buy and hold rentals, but mostly the rental ones I’ve done or have been in recent have been on North St. Catharines, and I think I would rent on some kind of a different tenant pool. You’re looking at, you’re looking at somebody who’s making six figures. Career oriented just has been able to purchase so you can assist them in helping with their credit repairs. Building their equity by paying higher rent usually find that more in the nicer neighborhood. There are areas we can buy a lower price point home, but you’re not always going to get the best tenant that will qualify for that. So.

Georges El Masri [00:28:08] Awesome. OK, I think we covered a lot. Do you feel like there’s anything we missed here or anything you want to share?

Nadeem Ahmed [00:28:14] I think, uh, you’ve asked me the right questions.

Georges El Masri [00:28:18] OK, so the last thing is, how do people reach you? What services do you provide?

Nadeem Ahmed [00:28:23] Yeah. So um, and with Rockstar Real Estate working as a coach investor myself, I do, as mentioned through our discussion, your ex doing rentals, multiple units, doing, working on land, severance, now doing, you know, properties that we can appreciate value in. Um, so those are the service I help out with and helping people with tenant pools.

Georges El Masri [00:28:48] Awesome. Thanks a lot for doing this and it’s always nice seeing you. I appreciate you taking the time. And yeah, we’ll talk to you, that’s for sure.

Nadeem Ahmed [00:28:55] For sure. Thanks for having me.

Georges El Masri [00:28:58] Thanks for listening to this episode. Your support is truly appreciated, and if you can share this with a friend or family member, that might benefit from the information. Remember, our goal is to motivate and inspire others to take action and to build wealth and to become well-off. Enjoy the rest of your day.

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