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All Forum Posts by: Nazmus Sakib

Nazmus Sakib has started 2 posts and replied 10 times.

Quote from @David Hardaway:

I have a good solution for you


Sure. I'll be happy to hear.

Quote from @Kevin Reinhardt:
Quote from @Nazmus Sakib:

Hi, I'm an international student,20 years old, and moving to Canada in September in Toronto. So, if I want to buy a multi-family unit(9 to 10)for myself as well as for investment purposes(student rental), can the bank approve me a 95% loan (CMHC)? Or do I have to pay a 20% down payment? How much interest rate private lenders will take if the bank doesn't agree to give?

Another thing is what's the easiest way to get connected with the real estate industry? Can I start with real estate photography, wholesale as a starter to grow connections and create savings for a down payment?


 Hey there.... 9 to 10 unit buildings will require a commercial mortgage which is usually 25 to 35% down.


 Yeah, I heard about that. Maybe 4 to 5 will be a good starter. Downpayment would be less then.

Quote from @Stevo Sun:
Quote from @Nazmus Sakib:

Thanks for letting me know, what about private lenders? They don't see the income, do they? I have heard some students take mortgages from private landers and 1-2 years later they flip it and buy new ones, is it a good strategy?

If you can find the private lender that's willing to do that then it might work. Conventional loans are usually the cheapest as they are generally more conservative. Unfortunately real estate is not typically a get rich quick scheme. That's not to say people don't get lucky. Counting on house value appreciation is a gamble, but as long as you know/can accept that risk then by all means go for it. Best of luck!

 Thanks, I'm also thinking of other ways to mitigate the risks factors as much as I can.

@Ali Bukhari, thanks, I'll keep in touch and keep gaining knowledge of real estate as much as I can. I'll think out of the box

@Chris Baxter, @Stevo Sun, @Account Closed what do you guys suggest to do as a beginner for getting into the real estate to see the insight? Real Estate Photography? Wholesaling?

Quote from @Account Closed:

@Nazmus Sakib

Happens all the time. It comprises a healthy portion of the massive money laundering problem that exists in Canada currently. Dozens of examples of international students buying $5+M on property for cash over a couple years. Enjoy!

Oh, I have my relatives in Canada, I was thinking to use their money(OPM) as a down payment, can I do that? I'll just wait for capital gain, in the mean time those rentals will pay for (private landers + relatives)mortgage, and exit when the price of a house a increase and buy new ones,

Quote from @Chris Baxter:

@Nazmus Sakib Welcome to BP (and soon to Canada). As a young non-resident with no credit history in Canada, you'll be hard pressed to find a conventional mortgage. If you are looking at mid-size MF (10 units) in the Toronto area, you'll need deep pockets... this doesn't mesh with your need to "save for a downpayment" unfortunately. 

Thanks, what will be your advice for me then? To start as early as possible? Should I wait until Permanent Residency?

Thanks for letting me know, what about private lenders? They don't see the income, do they? I have heard some students take mortgages from private landers and 1-2 years later they flip it and buy new ones, is it a good strategy?

Hi, I'm an international student,20 years old, and moving to Canada in September in Toronto. So, if I want to buy a multi-family unit(9 to 10)for myself as well as for investment purposes(student rental), will the bank give me a 95% loan (CMHC)? Or do I have to pay a 20% down payment? How much interest rate private lenders will take if the bank doesn't agree to give?

Another thing is what's the easiest way to get connected with the real estate industry? Can I start with real estate photography, wholesale as a starter to grow connections and create savings for a down payment?

Hi, I'm an international student,20 years old, and moving to Canada in September in Toronto. So, if I want to buy a multi-family unit(9 to 10)for myself as well as for investment purposes(student rental), can the bank approve me a 95% loan (CMHC)? Or do I have to pay a 20% down payment? How much interest rate private lenders will take if the bank doesn't agree to give?

Another thing is what's the easiest way to get connected with the real estate industry? Can I start with real estate photography, wholesale as a starter to grow connections and create savings for a down payment?