Residential Real Estate Investment

On February 22, the World Zoroastrian Chamber of Commerce – Houston Chapter
conducted a very informative seminar on Residential Real Estate Investment.
The seminar focused on two types of investments, the purchase of properties
for rental purposes, and the purchase of properties with the intent of
refurbishing and reselling. The first speaker was Mrs. Rubina Byramji, who
has 15 years of experience as a realtor, and is the recipient of the 5 Star
Award for six years in a row. She shared statistics on the rental market in
the Houston area, the areas where rental income and property appreciation
could be maximized, how to “run your investment like a business”, real
estate do’s and don’ts, the importance of running credit and criminal
background checks on tenants, and the risks associated with real estate
investment.

The next two speakers were Mr. Pankaj Arora and Mr. Kersi Engineer, and they
discussed the purchase, refurbishment and sale of residential properties.
Mr. Arora has been “flipping” homes for the past five years, whereas Mr.
Engineer has been a successful real estate investor in Texas and Nevada for
the past 30 years. They discussed how to purchase the “right” property
(which is very important), obtaining financing, contracting strategies for
home refurbishment, risks associated with such investments, and typical
returns that can be expected. They also provided some valuable insights such
as the need for being hands on and stay on top of the tasks being performed
by contractors, the need for having relationships with contractors and
vendors to obtain low prices for services/materials, why it is difficult to
maximize return on investment if you are flipping homes on a part time
basis, and how buyers focus on the quality of refurbishment of kitchens and
master bedrooms.

The seminar was very well received and the number of attendees was amongst
the highest at a WZCC-Houston event. The attendees not only had several
questions for the speakers after their presentations, but they also stayed
after the event was over to have one-on-one conversations with the speakers.