Indian-Origin Entrepreneur Karun Vij: A Rental Tycoon Earning Rs 9 Lakh
An Inspiring Journey from India to the World
[1:09 pm, 09/12/2023] Gaurav Sir: Anukriti Goswami: Meet Karun Vij, a 33-year-old Indian-origin entrepreneur based in Canada, whose unique approach to real estate has made him a hot topic on social media. His game? Earning a whopping Rs 9 lakh per month from room rentals. That’s right, room rentals, not entire properties.
In his student days, while pursuing engineering in Canada, Vij observed an interesting trend – rental units near academic institutions were priced per room, not by the entire property. A light bulb went off. Renting out individual rooms could rake in more than renting the entire house to a single tenant.
Fast forward a few years and with some savings under his belt, Vij took his first plunge into the property market in 2016. At a tender age of 26, he made a 20% down payment, approximately $64,781 (Rs 54 lakh), for a home worth $323,904 (Rs 2.7 crore) in Ontario, Canada. His target tenants? Seven college students.
Subheading: A Success Story Rooted in Strategy and Persistence
“I knew the area, I liked the area — not too expensive or too cheap,” Vij shared with CNBC Make It. He further revealed, “It’s like a top five university in all of Canada. It was solid.”
Vij’s real estate journey didn’t start with a full-time commitment, however. After graduation, he kickstarted his career as an application engineer and is now a sales manager at a U.S.-based company. Over time, his salary and rental income rose, enabling him to purchase more properties in southern Ontario.
“When I bought my first property, it was the most exciting and nerve-wracking time of my life,” he confessed while speaking to CNBC Make It. “I had no idea what it would take to be a landlord, but I knew in my mind this was my business.”
