All Forum Posts by: Halid Parladi

Hello Dear BiggerPockets family. I wish you have a great day.

I see that everybody is onto rental properties and buy low sell high strategy. Would not constructing your own custom house benefit you more if you were to sell the property? I do live in Canada, therefore, please make assumpitons on Canadian lands if possible. 

Let’s say a 1750 sqft house in Toronto. Everything is brandnew and cool. - Check up the houses that sell for 6 millions for example- Of course the construction company, or who maintains the property, makes profit out of selling the property, which I think the profit is around one fourth. Still, I would like to know how to calculate the exact amount to spend and to profit. Can you please enlighten me on this issue? Isn’t this a better way rather than working on buy and sell strategy?

Best Regards,

Halid

Hello BiggerPockets family. I wish you are all doing great.

Still a young university student, I am really nervous about the purchase of my first property. I still do not have enough balance to pay the down-payment (consider the fact that the houses are so expensive in Canada); however, I want to fulfill my knowledge before I am ready. 

To be honest, I do not want to take risk on my first property and, therefore, planning to agree with a company to take care of my property. I wonder if the offer that I am going to list down for a brand-new house is rational and can be applied:

- I will pay the down-payment.

- The company will take care of the house and the tenant; however, I will get my monthly loan directly from the company regardless of the vacancy.

- The company will take the cashflow ( or the buyer will only get a small amount such as $50 )

-  The company will take care of the repairs.

- The agreement will not be able to get broken by the company until the amortization ends.

- The company will be a 3% shareholder of the house… for a possible sale.

I wonder if this would be an option for someone like me who does not want to take risk for his first property. 

By the way, there may be other points that can be added or removed from the list. Can you please share your opinion and expertise on this issue?

Best Regards,

Halid

As someone who has just turned to 19, I have always wondered how people get rich out of properties. At first, I decided to become a doctor just because of the incentive of wealth and got accepted from many prestigious universities of Canada for Biological Chemistry.

However, I knew myself very well that I never would allow myself to work under someone else; therefore, I decided to create both my own financial stability and independence by focusing on something more real and catchy for me. I believe in myself and I know that I am going to succeed in the long-term, because of this, please do not try to fade my motivation by your ideas regardless of your expertise in this field. 

What I do want to learn is the best way to start to this long journey. I mean… what type of property should I choose as my first house (please consider the fact that I am in Canada)? How can I calculate the cash-flow and obtain a high one without the process of BRRRR? Can I agree with an agent to take care of the building (taxes, repairs, etc.) while still obtaining a good amount of cash-flow on the other hand? Should I go for an under 500k house to avoid high down-payment for my first building? How should I analyze a house (in a good condition) that costs 999k dollar in Toronto? Or should I invest in another province?

I am obsolutely sorry for these disturbing questions, but it would really help me if you may help me with these issues. I am looking forward to hear from you. 

Best Regards,

Halid