All Forum Posts by: Brian Lipszyc

@Chris T.

Hi Chris,

Is there a meeting coming up in Nov?

An old employee of mine did number 3 for many years and recently retired when he hit 50 with 1.4M in the bank.  We all used to question his choice of cars, houses, food, entertainment, etc. and now he has the last laugh.  He stuck to his plan and is very happy now.

I've come across a possible deal to purchase a few rentals, currently being "packaged" as a single portfolio.  Together, the numbers play out very good, but I'm not sure if purchasing it as a complete portfolio is the right thing to do?  Is this done often?  How would I eventually cash out down the road - do I refi each house separately?  Open to suggestions on what to read/research to possibly make a move on this one.

@Matt Hummel I used to work for Progressive Insurance and can tell you that rebuild cost is typically not going to match appraised value. Material costs, labor costs, demolition costs are all factored into what an Ins co. will value a property at. Only a lender (and their appraisers) can tell you what they're willing to value it at for LTV purposes.

@Samuel Vogt Do you mean BRRRR and Rent or BRRRR and flip?

Hi Everyone.  I've been lingering on BP for a while, but haven't really posted anything until now.  For example's sake, let's say I'd like to build a portfolio of rentals that would provide a total of $2.5K/mo.  I find a deal that cash flows at $250/mo for my first deal.  To get to 2.5K/mo, I'd need 9 more similar deals.  This seems like a big challenge that would take decades and would like to know what others have done.  If I use a big chunk of capital for the first deal, it would take some time to build more capital to get my second deal. And again for a third deal, etc.  Is that just how it works?  I'm not expecting overnight success, but am curious how others have gone from 1 to 2 to more in seemingly just a few years.

Thanks in advance.

Great question.  I'm starting out myself.  From what I've read and think I understand, the biggest mistake seems to be not accounting for all the possible expenses.  Seems like the calculators on BP includes anything that could be missed, so if you stick to using those, you should be OK on that front.

I'm trying to gauge how to move from Deal #1 to Deal #2 to #3, etc..  If I keep tieing up money in the first deal, what's the best strategy to get money for the next deal.

I do, but was wondering if I need to go further, like an LLC?

Hi there,

Recently became licensed and have a few deals pending.  Was wondering what the best way would be to protect my family's personal assets from any legal action against myself as a Realtor?  Not planning on owning any investment properties, just looking for protection from the day-to-day realtor actions, if needed.

Thoughts?