All Forum Posts by: Dan Krupa

@Svetlana Kazantseva absolutely it is reasonable to ask.  I only do GC work for friends and my clients. I focus on flipping houses and running my property management company. But I always bid labor only. Then I have them set up a text to purchase at Home Depot, and my client pays for all the material. We charge $100 to $250 for time spent going to Home Depot, depending on the size of the project. But I absolutely agree you get a labor-only bid. 

@Kim Tucker funny, I did the same thing the last two years. Strategically pulled back. Slimmed way down. Got more profitable. Starting to build back up but the right way this time. Love this topic. 

@Isaiah Gavin welcome. Before partnering up with someone, consider whether you would marry someone you just met. It's important to understand your own strengths and weaknesses and work with partners for a long time to understand the dynamic. If you do decide to partner up, make sure to have a lawyer create a solid operating agreement between you both. I have a similar background, having spent 13 years as an Army officer and becoming a broker in three states over the last six years. I have completed over 300 transactions, flipped or BRRRed over 160 properties, managed 70 properties and a 36-unit HOA, and built a nice-sized portfolio. However, I did it all without an outside partner, relying on amazing people around me. It's important to understand that partnerships can fall apart for various reasons, including people changing, heading in different directions, or not pulling their own weight. As a fellow vet and KCMO investor, feel free to DM me if you need any help.

Don't invest in Cali. That is my advice. Landlord-tenant laws, taxes, etc... horrible. Build a team in the midwest. Travel out there. I personally love Kansas City, MO. 

@Kevin Drouillard DM me. I might be able to help. 

@Luther Wilson III funny, someone just hit me up about this also. DM me. I would be able to discuss what you're looking to achieve. In six years, we have flipped/BRRRed 160 properties. PM 70. I am a broker and have done over 300 transactions. 

@Doug Fluckiger everyone has "their" company. I like Alliance Title. They have been great to me over the years, and once they understand your business structure, they will have you sign your NOIS as soon as you purchase the property to flip. I use NREIG for most of the flip properties. 

Never skip scoping the sewer main and doing a termite inspection up front. If you can't do those - unless the numbers are phenomenal, which will take you about five to ten deals to figure out, don't close on the property. 

Lots of great advice out there, but make sure you talk to people who flip. That is their focus. All REI is not the same. Buy and hold, and BRRR is different. We have flipped 160 properties in the last six years. It isn't easy, and there is a steep learning curve. But I love it and doing BRRRs for my clients.

@Christopher Mooney the city, Western NY, or upstate? Go Bills. Reach out. I am a KCMO guy and run all of my businesses long-distance. You need someone who is already doing REI in one of those markets. You will waste money setting up a site and trying to enhance your SEO. You might get some leads but you will not close. KCMO is a place where you go, you meet people, you shake hands, and that is how you close an off-market deal.

You can't have great appreciation and cash flow. For example, you can have a decent appreciation and excellent cash flow in Kansas City, but you can't have it all. What you are asking for is unicorn or circa 2012. Those days have passed. Not trying to be rude at all; you need to understand your market. If you want appreciation, go after the coastal cities, but you are looking at purchase prices two to three times the Midwest. We choose KC and love it: excellent schools, great tenants, low crime, fantastic cash flow, and good appreciation. But you have to know where and how to buy, no matter what market you choose. 

Love you, Lee, but I disagree with all Riverside being a B-/C+. Yes, a portion you want to stay away from. However, the area adjacent to Briarcliff and the Northern section of 64150 is a great area to invest in and is a B to B+ area.