1st How did you first involved in real estate?
I was headed to be a Chartered Accountant in 2000 after graduating from U of T Commerce. I was "too good" to be self employed because I was going to have a secure corporate job. During my final year at U of T I wanted to explore an area I had seen many hard working individuals do well so I took the first phase of the real estate agent's program, but I was being educated to work on public entities where the language of stocks and bonds were the wealth building tools. My reality of wealth and the public stock market crashed when Arthur Andersen LLP, the premier auditing firm at this time crashed due to the Enron scandal. I lost my job and most important learned that if I was going to invest in my career and my wealth it was going to be in something I could control- real estate.
I got into real estate as a real estate agent, then later as a mortgage broker, knowing I was going to make my wealth in this industry. I got paid to learn from wealthy clients and now my clients pay me for my knowledge.
2nd You have written a book on the condo market. Can you share some insights?
Firstly, the Canadian condominium market is the leader in innovative research, marketing and technology in the world, thus, the complexity of the product a buyer purchases is enormous. To buy a pre construction condo by going into a few builder sales office or just having a real estate agent show you a few condos, is simply not enough. The same way the banks and schools have prepared us to invest in our RRSPs by introducing us to business courses in school, training professional financial planners and investment bankers to prepare stocks for sale, is the same way an investor should be looking to learn about real estate.
Condominiums are divisible, tradeable, rentable and in abundance, which sets it apart from any other real estate investment today. The Canadian real estate market has so much money chasing good deals that capitalization rates are at all time lows. With over 18,000 units being sold a year from hundreds of new condominium launches a buyer must have a competitive edge to deciding where to invest his or her money. My book is that competitive edge.
Finally, condominiums are complex legal structures and complex investment vehicles that are demanded by investors from every nation in the world. If you are looking to invest in a condominium, read my book to get a birds eye view of the industry, the buildings and most importantly, the edge over the world's buyers. You can visit www.condoinvest.ca to learn more about "Profitable investing in condominiums: Strategies, tips, and expert advice for the Canadian real estate investor".
Randy Ramadhin is an advisor that puts his money where his mouth is. Randy is a professional real estate investor that consults to clients seeking wealth creation strategies in real estate. Randy has an honours degree from the Rotman School of Business at the University of Toronto with a major in accounting and served as a member of the Institute of Chartered Accountants of Ontario. Randy possesses a real estate broker’s license in Ontario since 2000, a mortgage broker’s license in Ontario since 2003, a candidate membership to the Appraisal Institute of Canada. Randy has held the position of chair of the Condominium Committee at the Building Industry and Land Development Association, member of the Greater Toronto Home Builders Association, and member of the Canadian Association of Accredited Mortgage Professionals. Randy is currently a member of the Commercial Division at the Toronto Real Estate Board, a member of the Real Estate Investment Network, and serves as a director for two condominium boards in Ontario.
Randy Ramadhin serves as instructor at MREISeminars.com teaching wealth creation strategies to new and seasoned real estate investors while advising numerous clients on resale and new condominium purchases and sales through the condominium advisor website www.CondoInvest.ca Randy served as content advisor and producer to Inside Toronto Real Estate, a real estate show on Rogers TV, hosted by co-author Brian Persaud.
Randy and his wife serve as Rotarians in Greater Toronto while heading up a non-profit Castles for Families, which teaching families money management skills to help them own their own home. Proceeds of the sale of this book will be going toward www.CastlesForFamilies.org