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Investor profile: Ankur Puri





Among the most important traits any real estate investor should possess is resilience.

Ankur Puri is perhaps the poster boy for resilience. The strategic real estate investor, speaker and mentor who runs Ank Real Estate Investments Inc., has mastered the art of fixing and flipping homes, however, it hasn’t been without its tribulations.

“I started investing around three to four years ago because I’ve wanted to do real estate since coming to Canada from India, but I didn’t have the idea or the means of how I should start, or even what I should do. While I was working, I took courses to learn about flipping, as well as no money downs and assignments, but it was still like a puzzle because of how much information was thrown at me.”

Puri put his feet to the fire and learned heuristically. While working at a restaurant and earning a measly $29,000 a year, he decided to dive headlong and commit to being an investor. While a courageous decision, he remembers checking his bank account one day and only seeing $98.25.

Yet after much trial and error, Puri caught a break.

“There was a family in Markham—a mom and dad running a restaurant with two kids under age seven—and their property was around $400,000 with a private mortgage worth $360,000, and it needed repairs of $15-20,000. The father had to get rid of the house because he was behind on payments. He gave me a call through one of my ads, and when I did the numbers I realized there was no money to be made.”

That didn’t stop Puri from trying to conjure a solution, realizing he had to think outside of the box. The husband did not want to move his family, instead hoping to remain in the house for a year as a renter.

“He asked if it was okay if he stayed in the property and paid $1,800 a month for rent and we could buy the property so there’s no mortgage,” said Puri. “He’d pay $1,800 plus utilities for a year. But he didn’t want to tell the kids they didn’t own their house anymore and that touched me.”

Puri brought in an investor—of whom he built an impressive rolodex—and bought the home below market value, which freed his new tenant from creditors.

“I called my investor and told him he could buy the place for $370,000 with a renter in place, so he’d already have cash flow,” said Puri. “He only had to put a 20% down payment and he didn’t have to do any repairs because the guy was already living in it. He could do them when the guy moved out. That’s how I made my first $10,000.”

Since then, Puri has been riding a momentous wave, fixing and flipping homes in Ontario from as far as Sudbury to Cornwall, and everywhere in between, with no money down.

“I do my deals strategically and make a lot more on the same deal, but help my investors who put in all the money for all the deals they’re doing. I make a quick percentage or interest. I do everything apart from the money aspect, which my business partner provides.”

Puri has done about 18 properties in three years, netting $1.2m. He also recently picked up a fourplex for $8,008. Whether he flips this one or decides to hold it, he won’t reveal.

Asked the biggest lesson he has to impart on other investors, Puri said, “Don’t spend too much where you don’t need to, and don’t become emotionally attached to a property. Once it’s done, you sometimes feel like keeping it, but you have to look at it like a business.”

Puri will be speaking at the Harbour Castle in Toronto on Nov. 17 as part of a boot camp on raising capital. He’ll be hosting his own event on Nov. 25 where he’ll share all his tricks of the trade.



Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


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‘Don’t give up’: Ottawa Valley realtors share statistics, tips for homebuyers in ‘extreme’ sellers market





The real estate market in the Ottawa Valley can be summed up this way: people from far and wide are in a buying frenzy, but there’s hardly anything to buy at the “store,” and the limited inventory is overpriced.

This “stampede” — as one realtor described it — will affect rural towns as residents grapple with finding affordable housing and agonize over their inability to purchase homes in their price range.

“We are seeing a lack of inventory in all price ranges,” said Laura Keller, a real estate agent from Carleton Place. HomeYou’ve been selected.Only $1.49/week for your first 4 months.Special offer just for you. Unlimited access.

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10 Tips For First-Time Home Buyers





Buying a home for the first time is exciting and a commitment to the future. It’s often challenging, too, and the process requires a lot of steps, many of which can be tricky to navigate as a first-time home buyer.

What are some things you should keep in mind as a first-time home buyer?

First-Time Home Buyer Tips

Here are 10 tips to keep in mind as you begin your journey toward homeownership.

1. Have Your Finances in Order

It’s wise to begin saving as early as possible once you’ve made the decision to purchase a house. You’ll need to consider the down payment, closing costs (which often range from 2% to 5% of the down payment), as well as move-in expenses.

You also need to understand the other costs of homeownership, such as mortgage insurance. property taxes, utilities, homeowner’s insurance, and more.

2. How Much Can You Afford?

Knowing how much you can realistically afford in a home is another important financial consideration. Look for the home of your dreams that fits your budget.

One way to avoid future financial stress is to set a price range for your home that fits your budget, and then staying within that range. Going through the preapproval process will help you understand what price range is realistic for your budget.

3. Make Sure Your Credit is Good

Another thing to keep in mind as a first-time home buyer is your credit score because it determines whether you qualify for a mortgage and affects the interest rate that lenders offer. 

You can check your credit score from the three credit bureaus – Experian, Equifax, and TransUnion.

This is another good reason for getting preapproved before you start your search. Learn more about the preapproval process and your credit score.

4. Choose The Right Real Estate Agent

A good real estate agent guides you through the process every step of the way. He or she will help you find a home that fits your needs, help you through the financial processes, and help ease any first-time buyer anxiety you may have.

Interview several agents and request references.

5. Research Mortgage Options

A variety of mortgages are available, including conventional mortgages – which are guaranteed by the government – FHA loans, USDA loans, and VA loans (for veterans).

You’ll also have options regarding the mortgage term. A 30-year fixed-rate mortgage is popular among many homebuyers and has an interest rate that doesn’t change over the course of the loan. A 15-year loan usually has a lower interest rate but monthly payments are larger.

6. Talk to Multiple Lenders

It’s worth your time to talk to several lenders and banks before you accept a mortgage offer. The more you shop around, the better deal you’re liable to get – and it may save you thousands of dollars.

7. Get Preapproved First

Getting a mortgage preapproval (in the form of a letter) before you begin hunting for homes is something else to put on your checklist. A lender’s preapproval letter states exactly how much loan money you can get.

Learn more about the preapproval process and how preapproval provides you with a significant competitive advantage in our article How Preapproval Gives You Home Buying Power.

8. Pick the Right House and Neighborhood

Make sure to weigh the pros and cons of the different types of homes based on your budget, lifestyle, etc. Would a condominium or townhome fit your needs better than a house? What type of neighborhood appeals to you?

9. List Your Needs and Must-Haves

The home you purchase should have as many of the features you prefer as possible. List your needs in order of priority; some things may be non-negotiable to you personally.

10. Hire an Inspector

Hiring an inspector is another crucial step in the home buying process. An inspector will tell you about existing or potential problems with the home, and also what’s in good order. You can learn more about home inspections and how to find a home inspector through the American Society of Home Inspectors website.

Buying a home for the first time is a challenge, but it’s one you can handle with the right planning and preparation.

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A Simplified Guide for Toronto First-Time Home Buyers





Toronto is the largest city in Canada, the fourth largest city in North America, which makes it an exciting place to live in.

But as with other major cities, finding the perfect place to move to can get tricky. If you’re planning on buying a home for the first time in this city, it is indeed a big decision and there are things you should know in advance.

Don’t worry, this guide will help explain the basics of what you as a buyer should know when you decide to buy a home. It will make you feel like a true expert during the buying process.

Decide what type of home you are looking for

There is no right answer to what makes a good home. It all depends on your preferences and needs as the resident. It is, therefore, a good idea to determine as early as possible which features of a home are important to you. If you are buying a home and moving in with someone, it can be a good idea for both of you to make a list and compare.

Toronto is a city that offers different styles of living accommodations and its neighborhoods are quite versatile and diverse, same as the people living there who come from all parts of the world.

The most common forms of housing and real estate opportunities in this city include bungalows, two-storey houses, split-level homes, and the very popular Toronto condos. Due to the high property values, the city boasts of construction of many condominiums as they are a more cost-efficient choice and provide a plethora of benefits.

When you decide on the type of home you want to buy, it is good to do some research and learn the biggest differences between them.

What to think of when choosing homes in Toronto

There are certain things you need to consider when choosing your home in this city. 

Being close to the things you need to visit every day makes life a lot easier. Pay attention to the proximity to shops, preschools, schools, and your job. In addition, access to good public transportation is crucial. Being able to move around the city easily and the opportunity to commute is important to many.

Know that having a balcony can significantly increase the value of your home and improve your well-being. Being able to move easily in the area is something that many people underestimate, but can be very convenient, and this is why you should see if there are good cycles and walking paths. 

And finally, make sure that the house is well designed which is a quality that does not disappear with the age of the house or with renovations. 

Set your budget

Before you start the search for your new home, you must know how expensive of a home you can buy. It is preferable to know in what price range to look for. The budget is usually decided based on your mortgage and how large are the monthly costs you can handle.

A mortgage is always about a balance between risk and income for the bank. The higher the risk for the bank to lend to a particular home, the more expensive the mortgage will be. When it comes to the bank’s reasoning when applying for a loan, it is in principle always a question of whether you as a borrower will be able to repay the mortgage.

The bank also takes into account your financial history. If you are a person who has managed your finances well, the chance increases that you will get your mortgage approved. If, on the other hand, you have a bad reputation with banks, it is weighed in as an aggravating circumstance.

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