Looking for hourse Scarborough guy

Added: Jeanell Shier - Date: 27.03.2022 11:17 - Views: 41920 - Clicks: 9090

Not just anyone could do what I did especially today, with housing prices at stratospheric levels but here, for the record, is how I did it.

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My story starts in Delhi, India, where I grew up dreaming of being an investment banker. At 18 years old, I got my chance: I was accepted to Wilfrid Laurier University, where I could study finance and economics. I was finally on my way. Before I left for Canada, my father, who ran a business importing food additives, gave me a stern financial warning. I took out student loans and worked a fundraising job for the Laurier Alumni to make ends meet.

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But I was diligent about networking. I flew down for an interview and got a job as an analyst in equity capital markets. I was working at an investment bank in Manhattan.

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I had achieved my dream. Or so I thought. I was pulling hour days, stuck behind a desk. After a year, I wanted out. All my friends were in Toronto, so I moved back. Real estate seemed like a good bet. I almost bought one, but then I realized that for just a little bit of extra money I could get a two-bedroom detached home.

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I spent days researching neighbourhoods, sometimes driving around late at night and taking note of the types of cars in driveways to get a sense of the income levels of residents. Some of the neighbourhoods I was touring were clearly beginning to attract wealth. I was confident that many of the houses I was looking at were underpriced. My first purchase was a bungalow near Yonge and Finch, an often overlooked neighbourhood with excellent public transportation.

Many young people buy their first homes with gift money from their parents. I split ownership of the house with my uncle, who put up half the down payment in exchange. It was a difficult living situation: the space was only half-finished, it was leaky and it had a cockroach problem.

I was sure that property in the Yonge and Finch area was going to continue to appreciate, so I thought: why stop at just one? In the months that followed, I read countless reports and articles about the real estate market, and I spent hours on Realtor.

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InI bought a second bungalow in the neighbourhood, purely as an investment. Again, I found a tenant quickly, and again the rent was nearly enough to cover my monthly costs. The following year Looking for hourse Scarborough guy put a deposit on a pre-construction two-bedroom condo near Sheppard West station. By the end ofI was 27 years old. I used my share to put a down payment on yet another North York bungalow with another partner, a friend from university.

I had to maintain four properties, all while holding down a full-time job. Staying sane and solvent was a struggle. I moved out of the basement of my first bungalow and into a one-bedroom rental condo, which I shared with a housemate. My bedroom was a tiny den. Around this time, people I knew started reaching out to me for advice. They saw my real estate portfolio beating the market and they wanted the same for themselves. So I got my real estate licence and became a full-time realtor, with a focus on investor clients.

North York was becoming expensive, so I looked for other locales roughly the same distance from downtown. Inwith a partner, I bought my first bungalow in South Etobicoke. By this point, values in North York had soared. I was 30 years old. I reinvested most of my profits back into real estate. Its backyard sits directly on the Lake Ontario shoreline, a rare luxury that I still cherish. I get emotional when I think about this time in my life.

I had spent the past six years making sacrifice after sacrifice to grow my portfolio, and my effort had finally paid off. I started living like a human being again: going out with friends, taking trips to Las Vegas and South Beach.

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I even bought my dream car, a black Mercedes CLS —a used one, but still. Suddenly, all the people who had told me I was crazy when I quit my banking job were asking me for advice. My parents were proud. I flew them to Canada and gave them a tour of Toronto. The market has changed radically since I got a foothold: buying practically anywhere in Toronto as a something would be a huge challenge. Every year, I mentor a new group of 20 young business students.

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Looking for hourse Scarborough guy

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