Is your real estate investment strategy evolving? Learn how Nabeel Mahmud has progressed from single family to Multifamily.
Since his youth, Nabeel has been an entrepreneur. In grade school, he sold his extra halloween candy. In junior high, he developed an internet bulletin board and sold access to his friend. Today, he is growing his real estate portfolio while working a corporate job.
His progression is impressive. He started with a single family, added a duplex, then a quad plex and now an 18 unit multifamily property.
He credits his ability to grow in multiples to applying the systems he learned in his corporate to his real estate investments. He developed a template and systems for his real estate and continues to improve and use with each successive deal.
His long term goal is to acquire enough income from real estate to replace his corporate job and win the time flexibility not afforded from a corporate job.
Most recently, Nabeel entered into a contract to purchase an 18 unit apartment.
Rather that call on the old listings, Nabeel reversed the process.
He first identified a property he wanted. The property was desirable because of its location and the well kept grounds and exterior. Recognizing the high level of care on the outside, he assumed it would carry to the interior.
The building was not listed for sale, so he approached the owner to see if he was interested in selling. The owner said, “no”.
A year later, Nabeel followed up with the building owner. To Nabeel’s surprise, this time, the owner said he was ready to sell.
After some brief conversations, they recognized that they were on the same page regarding price. Next, the seller wanted confirmation of finances from Nabeel to proceed. This was reasonable, and Nabeel provided the requested information.
The due diligence period ensued, with inspection, financing, and confirmation of the seller records.
When we recorded this conversation, they were two weeks away from closing.
For more contact Nabeel at:Nabeel@ayatpropertygroup.com