Namaskar! Welcome back to my channel, another video of Indian student in Canada. And in this video, I'm going to talk about my experience of my first house. Actually, that's my first house. So, I purchased this property in 2017 March 1st. That was the closing date where I got the keys. But so many things happened before that. When I was thinking of making a purchase by a house in Canada, my work permit was about to expire. Like I was in that very stressful situation. But at the same time, I had a really another stressful situation which is the finances. Because I'm just about to pay off my student debts that I borrowed for my education. And then my family was already in the process of planning my sister's wedding, where I need a lot of money. Because my dad didn't have that. So, while going through that financial situation, like I was really desperate to make extra money. So, I started to do some extra jobs like, you know, food delivery, like Uber. I went to the e-commerce selling products online. I went to like AMV, MLM Company. So, while I was doing all those things through some process, I learned about real estate. But here in Canada, in North America, where I was told that you can buy properties. You don't need that much money, especially if you're a first-time home buyer. So, that really picked my interest. So, then I started to look into, you know, what can you buy in Canada? In Windsor. Because I'm in Windsor. Ontario, if you know where it is. So, I started to search, you know, how much property prices are, what can I do? So, I started to read, and I actually joined bigger pockets. That's a very resourceful website for people who want to learn about real estate. And also, I joined some Facebook groups. And local, like a local meetup group, where real estate people who are into real estate or who are looking to do real estate, they come together once in a month. And they talk about it. A lot of Canadians, especially, they were very, very helpful. Like, I joined, literally, my good friend Cassidy started a group at that time in 2016, actually, before I bought my property. So, I started going attending those events. So, I was learning about Canadian market, how this works. So, in this process, I learned, I don't need that much money, right? So, like I said, and here, banks will give you 95% mortgage, which means, if you want to buy a house, this one, I got it for $102,000 Canadian dollars. So, if you're in India watching this video, it's 50 lakhs. But, good thing is, I don't need all that money from my pocket. That means, I don't need cash, and I didn't have cash. So, banks will help you with 95%, which means, for that $102,000, approximately $96,000, the bank was willing to give me. But, there was a challenge here. I didn't have my permanent residency at that time. It was in the process. So, I had to talk to many banks before someone said, yes. So, yes, if you're in my situation, don't let one person, if someone says that you cannot get a mortgage, if you talk to one person, then go talk to another one. So, especially if your PR is under process, and if you've been working in Canada for two, three years, you have a good credit score, most likely you will qualify. So, that's what I did. I went through that process. So, that helped out. And then, I was looking at this properties, okay, the 100,000 properties are good. You can even buy like 300, 400 where you get nice brand new houses. At that time, in Windsor, and older properties, this one actually was 105 or 80 years old. You can imagine 100 years old means how bad inside, and all those things, right? So, it was pretty rough, very, very rough. I'll try to scroll the pictures here so you can visually see. So, I was looking at, and I'm scared, like, really scared, because I never did something like this before. And I was, I'm into IT. I have no idea about civil engineering in Canada. I don't know anything about innovation. But what I learned is, if you buy a property that you do some improvements, like you do some, like, kitchen update, washroom updates, or floating updates, painting, some, if you do take this old property and make it look newer, then I was told in Canada, you will increase the property value. That means, this one I got it for 102. I took like 25,000 from the bank to do some renovations, and I did all those things, and now bank value it for 150,000. So, the value of the property will be going up if you force the, if you do some renovations to the property. So, that's how, again, these things at that point, I was just learning, right? And now, I got this property, now that means I have to do the practically implement those things. So, I don't know anything to do. Now, this fun part starts. I got some contacts from my friends, like I said, the Canadian friends, whom I was hanging out, and I had to hire a contractor. Till then, in my life, I'd never hired anyone. So, that was a freaking challenging situation. But with a, with a, like, a strong feeling inside, like, okay, all is well, everything will go well, just stick to your gut feeling. And I called four or five contractors, asked them to give some quotes, and finally hired one guy, based on my friend's suggestion. And again, if you are in Canada, you might know how typical it is to deal with these contractors, because sometimes they're very slow, sometimes they don't show up. Sometimes they ask for so much money, because you don't know anything, they're going to say, oh, I need this, you need this, you need this, you need extra 5,000. I'm like, I'm already running out with money. And I'm borrowing money from my line of credit, because bank won't give me that money for renovations until I finish the renovations. And I have to finish in three months. So, this was like scary. But I was like being humble, I was taking coffees to the contractor, trying to, you know, be friendly, make sure so that they don't screw me up and quit the job in the middle. So, again, thank God, they finished the project, and I moved into one unit, actually, this is like a two unit house. It's a, it's a call it dooblacks. So, I moved into one unit, one bedroom, and rented out the three bedroom one. So, three bedroom rent was $2,150 at that time, and that $2,150 paid my mortgage, my property tax, my insurance, and some water bills and other expenses, because my property price was $100,000, $2,000, and plus improvements, $25,000. So, my mortgage total was like $120,000, something, after my 5% down. So, literally, with $5,000 from my pocket, $5,000 to $7,000 from my pocket, I got this building, and guess what I did? After one year, my wedding was over, my sister wedding was over. So, I got into so much big depth, so I decided to sell this property. So, guess what? Thank God, my hardware paid off, and all the, you know, my friends' help, and everyone, thanks to everyone, I was able to sell this property for $227,000. After all my expenses, I made like close to $80,000, Canadian, which is like 40 lakhs, and this is while I'm working, this is while I was like working full time, my annual income at that time was $80,000, but from $80,000, government took taxes, which is like 30% something, 30% something. So, my actual year income in my pocket was close to $50,000, $50,000, but this property made me $80,000 in the same year. So, that's why I quit my job and started real estate. So, in the next video, I'm going to talk about my real estate, real estate, real estate, how I got my license, and all those things. So, stay tuned for that. Till now, if you like this content, make sure you hit that thumbs up button, just to help the channel, and leave a comment below, how do you like it? And how are you, is this helpful for you? If you're a student in Canada, can you, is this anything making sense to you? So, let me know in the comments below. I love to hear your feedback, I love to see that love symbols, our thumbs ups, our thumbs downs down. Until then, see check out the other videos, see in the next video. Thank you, have a good night.