A 33-year-old man Karun Vij an Indian Origin businessman, is getting nine lakhs per month through his four properties in Canada. While studying Engineering in Canada in 2016, he saw the nearby flats are rented for a single room instead of a whole house to one tenant. This makes him think in that way which yields more profit later.
Vij then started to save money to own a property in Canada’s Ontario. At the age of 26, Mr.Vij made a down payment of $64,781 (Rs.54 Lakhs) for a home worth $323,904 (Rs. 2.7 Crore) and gave them as rent to seven college students. Also, he did not have a plan to become a full-time landlord, According to CNBC, after he completed graduation, he started working as an application engineer, and accounts manager at a US-based company. After that, his salary and rental earnings both increased tremendously and he started to buy more properties in Canada.
Mr. Vij said that he is not ready to sell any of his assets. He also admitted that he does not care about the price. Also, he wants to buy as many assets as possible to buy. Also, there are a lot of challenges in being the landlord, because from fixing a tap to changing the bulbs, he got more calls from the tenants initially. Now Vij at the age of 33 has been living in Chicago with his wife and daughter and has been earning nearly $2.3 billion. He said that when he bought his first property, he was in a very crucial situation.Also, in the properties he bought recently will not be turning profit as the upfront costs for renovation is higher for that. Vij’s story is purely an inspiration that how a student should think about the future and how it may gain a value.
