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Do you feel anxious and apprehensive about renting to young adults? With the right strategies in place, you can successfully rent to students while mitigating any potential risks.
Ricardo Figueroa is a Professional Real Estate Investor who has been actively involved in Kingston, Ontario area.
In this episode, Ricardo helps us navigate through the process and share his secrets for ensuring a smooth and profitable experience of student rentals.
Checkout: Raising Capital Without Rejection Full-Day Workshop (Online): https://investorattractionworkshop.com/
What you will learn from this episode for 25 minutes:
Resources:
Topics Covered:
01:19 - How he got involved with real estate
02:38 - What made him choose real estate over other investment vehicles?
05:16 - The type of investment property he started with [plus, what is a turnkey property]
07:24 - How did that first property got him rolling in real estate and where that led him to
08:52 - From one student rental to more of them
11:23 - Choosing long-term buy-and-hold properties over others
14:34 - Ricardo's deal-breaker
15:52 - The skill he considers a strength in real estate investing [plus his requirements for buying properties]
17:42 - How to best screen student-tenants
21:30 - Where he sees himself down the road and what his immediate plans when it comes to his favored investment strategy
23:16 - Leveraging joint venture partners and creating a win-win situations for all stakeholders
Key Takeaways:
"I know student rental type of property will allow us to get a win-win situation for the tenants and for us as well." - Ricardo Figueroa
"The long-term buy and hold allows me to not get involved in the property, because once it's rented, I don't have to touch it until a turn over. The active appreciation, and the cash flow is what I like." - Ricardo Figueroa
"One of the things I have been able to develop is being very analytical on the purchases because for any investor it's a lot of money, a lot of cash that are going to these deals, a lot of responsibility that you have to commit to it. One is to yourself, to the banks and, and other people involved." - Ricardo Figueroa
"I don't buy the properties just because they're good properties in terms of the way they look because of sentimental value. I buy the property because it makes sense to the business analysis I have created for." - Ricardo Figueroa
Connect with Ricardo Figueroa:
Connect with Dave Dubeau:
