When the word ‘investment’ is thrown in the air people usually think of having money in a stock or a bond, but there is one investment idea that often flies under the radar and that is investing in real estate. It is one of the most traditional ways of investing your money and real estate investor Harun Nawzadi claims that it is the best investment route you can take, which offers a much higher chance of success.
In our recent interview with Harun, we learned that his knack for success lived in him from a young age. He told us at the age of 16 he started his entrepreneurial endeavors,
“I always knew I needed to have a side hustle. I wasn’t the type to come home from school, sit on my PC and play games with my friends. There was always this need to learn something or sell something.”
At a young age, he started working to support himself. He said flipping iPhones was how he earned income throughout high school,
“I’d have a new phone every single week and would never have any numbers saved, because I knew I’d sell it again for profit. Yea it sucked to not have your own personal device and my friends hated me asking ‘who is this’ so much, but a good entrepreneur never has an attachment to his product.”
He says you should have passion for your business and your product, but never attachment, “The same principle goes for real estate. I take these ugly beaten down homes and within months transform it into a modern and luxurious living space. There is always that little bit of me that sees every project as an art piece and wants to keep it, but if I do how do I make money?”
It doesn’t matter what it is that you are flipping, your profit is always made at the point of purchase, “there are thousands of people in this industry. I meet many individuals that call themselves real estate investors and I do respect their hustle; however, too many of these investors fail because they don’t realize that their profiting or losing money on a deal all happens at the closing table. Doing your due diligence and buying at a good price is literally the make it or break it factor”.
Know your market he says, “location is key, before I get into any deal I know what the neighbor’s house is worth, what the neighbor’s neighbor’s house is worth and what his neighbor’s, neighbor’s, neighbor’s, house is worth. You get the point – know your market. You cannot buy a house in the middle of nowhere and expect it to make you money. What is around you? Any good schools? Any good shopping centers? I’d rather have an old 500 square foot condo in NYC than a brand new 5000 square foot single family with nothing around. One will make me money and the other will eat my pocket”.
We hope that this interview with a young self–made entrepreneur who has market experience has provided some pointers about making a smarter decision before going into a real estate deal. As successful as Harun is at what he does, he ended the interview by sharing that getting to this point was a big challenge for him, “any business has some sort of competition and the real estate business is a dog–eat–dog world, that was and still is a tough challenge to overcome. The only difference now is that I know how to navigate around the competition and still keep succeeding. It is a lot of hard work, but it’s the best decision I have made in my life and seeing all of the hard work pay off feels pretty amazing.”
Harun’s current portfolio consists of rentals, both on the residential and commercial space, alongside hundreds of flips he has completed throughout his career. He plans on sharing his market knowledge and expertise with new-comers in the market, “I don’t want others to make the mistakes I made…I want to set them up for success”, he stated. Seminars will be providedthrough online and in-person setting , catered to individuals at various stages in real estate investment.
Official Website – www.harunnawzadi.com
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