Abdul Chowdhury
Fairfield, OH (USA)
Role(s):
Founder/Owner/Principal
Samir Properties LLC
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Startup
Location:
Fairfield
Industry:
Real Estate
Year Founded:
2005
Number Employees:
1-10 people
Description:
I have a total of 11 investment homes of which I have rented 8 and in the process of fixing the remaining 3 to rent. It works for me since I am able to buy these houses very cheap (e.g $15k for a 3bd house auditors estimated to be $79K) and fix them up cheap ( that same house costing $20K for complete renovation and significant upgrade for it to be worth every bit of the $79K in this bad market. This house I am renting out for $850 w/ no utilities paid. I am doing this to build a steady income base. With 10 more rental homes I should be able to quit my day job.
Over the years of slowly acquiring my current investment properties, i have been physically involved in fixing them up and learning multitudes of skills in renovations. In the future I will be dealing with the aspect of buying homes that need repairs and fixing them to establish equity and rent, then, sell them at a profit when the market gets better. I can do this because I know how to buy them cheap and renovate them at exceedingly reasonable rates. Infact, if I have the capital now, I can buy houses in descent neighbourhoods and fix them up to sell for profit in this current realstate market. Eventually I would like to generate enough capital to invest in
commerical appartment complexes.