This is how Sheikh (35) was able to afford his dream car

A green Lamborghini Huracán slides past the E24 office in Akersgata in central Oslo and disappears into the parking garage in the adjacent building.

The green smile with more than 600 horsepower belongs to the lawyer Sheikh Waleed Khalid (35), who works in property rights at the law firm Codex.

– I think a lot of people use cars like this as a fun car at the weekend, but I drive it to work, and pick up and deliver to school and nursery. The children think it’s great, says Khalid to E24.

He always dreamed of getting such a car.

– I had a poster of a yellow Lamborghini Diablo in the boys room. At the time it seemed a little unattainable, he says.

– People ask me what is the best thing about driving the car. A lot of people think it’s the distance, but to me it’s more about symbolism. The childhood dream has come true.

It’s not the lawyer’s salary, but private property investments that have been important, he says.

– It is important to have a real plan, so that your finances do not stop when you buy such a car.

– Flipper homes and deals

Khalid has invested in both housing and contracts for new houses being built.

– I turn homes and contracts privately, he says.

– I am looking for low-priced homes, which are very well-known in the areas around Ensjø and Løren. In addition, I have many friends in the brokerage industry. It is important to do your due diligence before investing.

According to the Property Register, he has sold homes for more than NOK 10 million more than he bought them for, but no contracts for new homes appear on the register. Today, he and his wife are sitting on property values ​​of around NOK 50 million.

A few months ago, he bought a contract for a new home in the Mariakvartalet in Bjørvika in Oslo, which will be ready in two to three years.

– When you buy a home under construction, you must pay 10 percent of the purchase price. The apartment in the Mariakvartalet, for example, costs 6.9 million, which means paying 690,000 when the contract is signed.

– You can then issue the contract for sale before the home is ready, and then make a profit without incurring interest costs.

There is a risk that the housing market will collapse before it is completed, he says.

– If you thoroughly research house prices, the area and the project in advance, you can reduce this risk. There is also little risk of bad builders going bankrupt in Norway, and you want a builder’s guarantee in all cases.

The lawyer sees property as a “safe investment”, especially in the capital.

– Too few homes are being built in Oslo to cope with population growth. There are far too few land plots that are managed for housing and Oslo is limited by the land boundary and the development plan. According to the experts, the interest rate will eventually come down, which I think will lead to an increase in prices.

– He can’t just be an employee

When he worked as a salesman at Power Alnabru in the east of Oslo more than ten years ago, he realized that the classic career path would not be enough.

– I spent a lot of time in Excel, and calculated different situations. I quickly came to the decision that if I was going to be able to afford the car of my dreams, I couldn’t just be an ordinary worker.

The path continued to DNB in ​​Bjørvika, where he worked as a customer advisor for several years. It was then that interest in housing was awakened in earnest.

– We were a group of 6-7 people who shared an interest in property and the idea that you have to run something on the side. We have been playing well with each other over time and we have appreciated having a good team around us. The whole gang deals with real estate today.

Now several of them plan to start a company together.

– He wants to invest more professionally and be able to enter into bigger projects. The focus may be on estates, forced sales and the like. There is a limit to what you can achieve on your own, and the possibilities are much greater with a good team.

– Things must be done in the right order

You have to be patient if you want to achieve long-term goals, according to the lawyer.

– I’ve always been concerned that you have to do things in the right order. Although I have been dreaming about the car for a long time, I invested and got a good foundation. For example, I think it would not be wise to buy a car before buying a home.

When he was in his first year of law school, he bought his first apartment.

– I continued to live for free in my parents’ house, and I rented out that flat. I did the same with apartment number two.

The specific plan to buy a Lamborghini was made about three years ago.

– I bought housing contracts in 2021. The plan then was that the profit from them would go towards buying me the car of my dreams.

A little while later he saw a Lamborghini on Finn.no, but he kept to himself.

– It was a shame to buy the car before the contracts were sold. I saw that the value of the homes had increased and I wanted to get the profit I needed from the sale, but I held off until after I sold the contracts around the beginning of the year 2023-2024. Then the time was right.

– Holds its value well

Buying a Lambo started with a phone call to Style Auto car dealer in Vestby.

– I have followed several car groups online. Naveed Sultan, who runs Style Auto, is like a kind of guru in the environment. I called him and asked if he could guide me, and he happily agreed to do it. I think the help I received was absolutely essential to making a good car purchase.

– How much did it cost?

– About 2.5 million. The beauty of car brands such as Lamborghini and Ferrari is that many of them hold their value well. For example, I have lost more money on my Nissan Leaf than on this one.

Now he has started a separate Facebook group for exotic cars with another enthusiast he met at the “Lamborghini Bull Run” car meeting.

– I missed the supercar environment over car brands. Ferrari and Lamborghini have their own group, but there was no group that brought them together. That’s why we created Exotic Cars Oslo.

But Khalid also gets a lot of car enjoyment through the small everyday moments.

– Now I just delivered to the kindergarten. Children come running to see the car. They have not learned to be blocked yet, so you can see real driving pleasure. It’s a great sport.

– What about Jante’s law? Is anyone jealous?

– Not as I noticed. Most are positive and many are giving thumbs up. But I don’t move it to client meetings. I don’t think that looks very good.