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 aProfessional 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:
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
"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: