Offering innovative solutions for buying a house, JAAG Properties represents a new way to think about homeownership and real estate investment
Photo: JAAG Properties co-founders Alfonso Salemi and Adam Wissink
THE REAL ESTATE market in Canada feels increasingly cleaved between renters and owners, as homeownership rates are dropping in Canadian cities, mortgage regulations are tightening and down payments are ballooning beyond affordability ― even if you do qualify.
Add to that an entrepreneurial, but non-traditional, younger generation of workers who don’t necessarily tick off the many boxes required by mortgage lenders, and it’s easy to appreciate why a proven and reputable rent-to-own option is so attractive in today’s residential real estate market.
For the past six years, London, Ontario-based JAAG Properties has been bridging this divide, acting as a partner to help individuals who may not qualify for a traditional mortgage — the self-employed, the ones repairing their credit, the upstart professionals — get on track to own a home of their choice.
JAAG isn’t a landlord, nor a bank. “We’re partnering with our clients,” says president, Adam Wissink, who co-founded JAAG with Alfonso Salemi. “JAAG builds personal relationships which results in a pride of homeownership for our clients.”
Since its inception, JAAG has helped a growing number of people and families across Ontario get the keys to their ideal homes. More than 50 have ‘graduated’ the program, over 100 more are on track to do so and more and more are jumping on board every month ― even during the Covid-19 pandemic.
But fulfilling the dream of owning a house is only one side of the JAAG Properties story. The firm also provides exceptional opportunities for investors looking to establish or expand their residential real estate investment portfolio.
Offering hassle-free investment opportunities, investors can simply put up capital or act as a third partner to a home deal.
For the most part, it is a hands-off arrangement for investors. Most are only involved in a financial capacity and never get involved with the property itself. No midnight maintenance calls, no showing up to collect rent, no combative relationships with tenants.
JAAG’s proven system of helping individuals work toward homeownership while providing exceptional investment opportunities for investors ― all backed by a dedicated team of real estate brokers, realtors, lawyers, credit specialists and property managers ― has, in essence, created a new kind of real estate company, one that is leveling the playing field by making it possible for people to enjoy the benefits of owning a home sooner rather than later.
“We don’t have a landlord-tenant relationship with clients,” Wissink says. Instead, JAAG functions like partner or an agent, handling the credit components, the lending and the paperwork. In turn, the client treats their home like their own, investing in upgrades and repairs if need be. And if the barrier to accessing a mortgage is messy finances, JAAG has certified financial planners on staff to help make the numbers line up.
And while the Covid-19 pandemic has thrown a wrench into the plans of many prospective homebuyers, and presented challenges for many already established in the home market, it has also served as a testament to the firm foundation of the JAAG business model.
“The JAAG system was equipped to make interim arrangements for those clients in need of payment options, and only less than 10 per cent of our clients needed assistance during the pandemic,” Wissink notes. “None of our clients lost their home and no investors lost money or even had to add additional capital. This is in large part due to the quality of our clients and relationships we build.”
As the Canadian homeownership market becomes increasingly difficult to navigate, it also becomes a hostile place for many people who are outside looking in. But it doesn’t have to be. Aiming to break through traditional barriers to give everyone a shot at owning their own home, JAAG represents an entirely new way to think about homeownership and real estate investment. It’s a tool worth exploring — whichever side of the deal you’re on.
This story was created by Content Studio, TreeTown Media’s commercial content division, on behalf of JAAG Properties.