Sahil Jaggi: "Don’t be afraid to hustle"

It’s safe to say that virtually all real estate sales reps are up to speed on the importance of location. But Sahil Jaggi is downright obsessive about it – so much so that it’s not unusual for him to drive around various neighbourhoods in the middle of the night, scrutinizing everything from access to public transit to the amount of development taking place, proximity to waterfront and even the makes of cars parked in driveways. He says that the latter gives you an idea of what sort of people live in the neighbourhood.

“Everything matters. My search process is really detail oriented. I dig deep. I do extensive research,” says Jaggi, who’s with Re/Max Realtron Realty in Toronto and last year started up Mink Homes, a home building company specializing in investment properties and the construction of contemporary homes.

“I’m pretty much doing the entire real estate solution. I do buying and renting and selling and building,” he says. “Even with a small condominium, I believe it’s important to learn the product inside out.”

Jaggi’s thoroughness and resourcefulness are working for him. Barely 30, he’s only had his real estate licence for a couple of years and almost never pays for advertising. (“It’s not my style,” he says). Yet he has consistently received increasingly prestigious Re/Max performance awards, largely thanks to an overabundance of foreign and local contacts gained through his investment experience (not to mention referrals via his sister in Singapore).

“People see me as a successful investor,” he says. “In the last six years I have built a personal real estate portfolio of over $6 million…and growing. I own about seven investment properties as personal investments and joint ventures with investment clients.”

He says many investors are looking to buy houses that they can rent out for income purposes and eventually a “solid wealth building return.” Among his top tips to these buyers is to always have solid cash flow estimates around payments versus rental income, and to make sure there’s enough in the bank to cover the mortgage for at least three months in case the rental income dries up for some unforeseen reason.

“It’s a great thing to be an investor yourself, as clients see me as an expert and not a salesperson,” he says.

“Be proactive and connect with successful Realtors and investors internationally, for instance, in China,” he advises. “You can’t ignore investors coming into Canada.”

Jaggi has been featured in several magazines, has spoken at investors’ forums and is often a guest lecturer at a school of business affiliated with Toronto’s York University.

An economics and business graduate, he’d previously been an investment banker on Wall Street. (“I hated it,” he says). He soon went in search of a career that was a better fit with his entrepreneurial disposition.

Sahil Jaggi (Photo: Marko Shark)

“Don’t be scared to pursue something you are passionate about instead of being stuck in the 9 to 5,” he advises.

Not knowing what else to do, he moved home to Toronto. Having travelled widely, he regards the city as one of the best in the world for investment.

He purchased an older run-down bungalow on a large lot, renovated it, moved into the basement and rented out the top floor. Soon he was buying more houses with the help of investors he talked into joining him. His strategy then and now involves hand picking properties in areas of high growth potential (that haven’t reached the saturation point), where appreciation levels are expected to be significantly above market norms.

Getting his real estate license seemed a no-brainer under the circumstances. Besides providing added credibility and allowing Jaggi to be his own sales rep and to service the real estate needs of other investors, it has facilitated networking and given him access to “tools and cutting edge information,” he says.

Not content to simply target promising neighbourhoods for his clients – the majority of whom are looking for investment properties – Jaggi takes the time to narrow choices down to a particular street or even a specific house, whether that house is for sale or not.

“Don’t be afraid to hustle,” is one of his mantras.

In a booming market like Toronto’s, “you have to be smart, innovative and ahead of the game,” Jaggi says.

To that end, he does not wait for listings to pop up or come to him but instead goes out and finds them. Not only does that mean he double ends the deal, it also eliminates bidding wars, which is currently the “biggest problem in Toronto real estate,” he says.

“Once I narrow things down to the street I want, I will door knock, write letters and cold call, contacting every homeowner on that street for my buyer – or for myself, if I want an investment property there,” he says.

He’s aware that many agents think cold calling is “old fashioned.” But he’s found it to be one of the most effective ways to prospect.

Don’t try to get around it by sending your assistants out to cold call for you, he cautions. If you do, your success rates will plummet, he’s discovered. Presentation and attitude are everything.

Start a conversation. Don’t look at cold calling as hard-core sales, instead view it as offering potential clients something they would appreciate, he advises.

“Not many people will say no when you ask if they’d like to see what their house is worth on paper,” says Jaggi. “There are a lot of neighbourhoods with older people who have been there 40 or 50 years,” and they often appreciate being given help finding out what their home is worth in the current market. “When they bought the house 40 years ago for $80,000 and you tell them it’s now worth $1 million,” they are stunned, he says.

The growth is far from over, in his opinion.

“Toronto is still greatly undervalued compared to other hubs.”