Student turned investor bullish on hometown investment options

He learned about the opportunities provided by real estate investment while in school, and his properties in that market may soon help him become a full-timer.

“In London you can get 4- and 5-bedroom properties for around $175-300,000,” London-based investor Kevin Miller told Canadian Real Estate Wealth. “So we specialize in that market. It’s still obtainable to get your 300- and 400-dollar-a-month cash flows, even upwards to 800-dollar-a-month cash flow, in a single-family home.”
Miller, who is 24, started investing almost straight out of school.
“I got a job in an office right out of school but I didn’t really like that. When I lived at Fanshawe, I was charged $400 for my room per month,” Miller said. “I did the math; there were six rooms in that building, so the landlord was making $2,400 a month. So my very first year at school I thought, ‘This is definitely what I want to do.’”
Currently, Miller owns four separate investment properties but, perhaps surprisingly, he has been focusing mostly on single-family homes in London.
“To manage single-family homes, it seems a little bit easier to do it by myself; when I do expand, diversify, get a few more people working on my team, then I definitely think I’ll be able to jump into student rental,” he said. As of now, I do have one up at Fanshawe College area that’s a student rental, but it’s right on the verge. So it could be a single-family rental or it could be a 4-bedroom, and we’re getting $1,200 a month there.”
“So I got into that one at a $125,000,” Miller continued. “I’ve put about $15,000 into it, bringing me to about $140,000, and now I’m renting it out for $1,400 a month, which is a great return on investment considering that it was the first home that I bought when I was 20, so I only had to put 5 per cent down.”
Along with his investments, Miller just recently earned his real estate license.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate

Investment Hot Spots:
Calvert, Chute-aux-Outardes, Chance Harbour, Losier Settlement, Rapid City


  • by Rose 2016-04-08 2:26:18 AM

    Just wondering where a 20 year old gets the capital to downpay or leverage with the bank for those mortgages? How did thst work please?

  • by Scott 2016-04-08 11:21:44 AM

    He only needed 5% down. On a $100 k house, that's only $5,000. With legal fees and closing costs, let's say it cost $7,000 total. That's not a lot of money if you have a part time after school job and no expenses such as car insurance, house insurance, mortgage payments, debt repayments such as credit cards, lines of credit and car payments.

    It's very easy to save. And if you go up to full time hours in the summer, even better.

    And......the old stand-by - the bank of mom dad (family) can provide some security as well. Maybe not money but rent free accommodations, the use of the family car.

    My guess anyways.

Get help choosing the best mortgage rate

Just fill in a few details, and we'll arrange for a Mortgage adviser to help you find the best mortgage for your needs

  • How soon do you want a mortgage?
  • Name
  • Where do you live?
  • Phone number
  • E-mail address


Is a T.O foreign sales tax a good idea?