My name is Prinon Khandaker - I’m a real estate investor although more often then not misunderstood.

My Passions

My passion in life started ever since I was six years old and really, I always wanted to live on the edge and experience the finer things in life such as luxury cars, luxury watches and any form of adrenaline, there are so many rumours and personality traits about me - although I try to keep it low-key.

Real Estate

I started in the real estate game in the early 2017, although there has been many years of planning behind it sitting down with mentors and great minds. I’ve heard so many times and dinner conversations yes I’m planning on going into real estate how many people actually make it or get the opportunity to go in our far less, let alone be successful in the business. I can assure you being in real estate in the owning portion of it at least there’s nothing glamorous gives you headaches and heart burns and a minor cash flow depending on how great your luck is with the tenants I’ve had the pleasure of owning 88 units a six unit a four unit another six unit and another eight unit.

Financing

The biggest issue is getting the approval and the financing even if you have the money the stable job the stable day-to-day living the bank will still find ways to lowball you and make it close to impossible for you to get an approval and even if they do give you an approval they will find any anything to give you a terrible rate for let alone refuse you. Best ways of purchasing real estate would be to go with a broker and a very experienced real estate agent to make sure your transaction goes flawlessly.

Location, Location

I started investing a lot of my real estate assets in the eastern Canada region however this region is still under-developed undersold under-estimated the rent alone he’s quite a bit of the mortgage and there are no government body/agencies that will hinder your business dealings such as they do here in Quebec. The most expensive part of owning real estate is the taxes eastern Canada has been raising taxes ever since I’ve purchased the properties sometimes I wonder if the rent weren’t high enough these assets would become liabilities or I would have to make sure I have the means to pay for the taxes on my own. After that you have the repairs they could be extremely extensive sometimes require multiple visits.

The Day to Day

The logistic side I would say is the hardest especially if you have a full-time career and this is something you want to do as a side hustle you really need to be organized as little things can deteriorate and cost hundreds of dollars. The second thing is a good accountant you need a good accountant to make sure that you were guided the proper way so all your financial transactions as well as investments are well organized and properly handle such as mutual funds dividends. Tenants don’t always pay their rent on time it could be even to the point as they will try to skip rent or commit minor fraud, by giving you a check that will bounce justify themselves time. You need to be the owner the financial representative and the consultant all in one if not you will need to make sure that you are able to pay for the services, keep away from heritage properties as they have a lot of history and laws that will prevent you from doing renovations that are cost efficient and you will need a permission before you do anything, At times it could be a blessing other times it might be a curse.