All Forum Posts by: Kolton Lynch

Hi Brian, Greetings from Canada! 

I was just reading your post and could not help to find my self in the same situation. Reading this gave me hope and I am so happy for you and your family. It is nice to see someone take the risk. I have plans on doing the same hopefully in 2 years which would put me at 32 years old as well. haha I have 2 properties right now but looking to have a couple more before I can walk away ! 

Hi BP Community 

A little bit of a background on me I have been investing for 2 years I have a duplex and I have recently just sold my flip and am in the process of buying another buy and hold with the BRRR strategy. I have a job which pays me 85K a year but It get home really late and leave super early so I hardly have time to see my kids, especially my daughter who is sleeping when I leave and heading to bed once I get home.

I purchased my first duplex in 2018 - at 310K renovated and the house was worth 450K  

With this duplex my mortgage and tax is 1760 - Month and I get 2900 a month in rent. 

I used that money and put it towards a house which I purchased for 320k. I was living in the house for 9 months and realized the market was hot. I have just sold the house 510K which helped me pay off debt and clear my wifes school. 

I am in the process of buying another house now for 390k which closes in January I am hoping to invest 50 - 60k In renos and to hopefully BRRR.

I am trying to game plan my great escape and to be a full time investor but I am unsure how to get there. I am hoping once I finish this house I will have a clearer picture. If you have been in the same situation or a similar situation, could you please share how you made the move and any helpful tips I could use to game plan my GREAT ESCAPE haha


Thanks Everyone ! 

@Ross Gleason Thank You, Yes I refinanced a few years ago on my first property. I just seem to keep putting money into my very first house as I was learning out and would like to sell it while the market is hot and put my money into other units or JV with friends and family.

@Ryan Proffit Thanks brother I will do my best. I honestly feel like reading that made me want to quit right now and go home lol 

@Jeff Copeland Hi Jeff, 

Thank you for your reply I forgot to mention what my plan was but I was honestly looking at using the money to find more deals and more flips and possibly start a business of my own or find something to do that brings me closer to my family. 

Hey Guys, I have been working the same sales job for just over 9 years. I have been with the same company for about 11. So I have been doing the drive back and fourth to home has been so draining and I have been the happiest. I have a couple of rental units that I have been wanting to hold on to but I feel like I should sell both of them because I have had my mortgage payed down quite a bit and I have flipped both of them so I feel like I could possibly sit on some coin for a bit and look for better investments and a new goal to follow because I have a new daughter in my life and I would like to see her grow instead I leave the house at 530 am and get home a 630 - 645 Pm . I am looking for some guidance on my next step and would it be worth it to leave and figure some things out.

The market seems to be doing well right now and I feel I could get 450K+ for each house. which should leave me with over 220K on one house and 260 - 270 on the other. Would that be enough money to walk away from my job which pays me 87K a year plus a 15k end of year bonus which gets taxed like crazy lol. 

I kind of have my mind made up but I would like to hear some onions or other options that may help my self and my family along the way. Any advice helps Thanks again for reading this and thank you ahead of time if you choose to respond. 

EDIT** Sorry I forgot to mention what I would like to do. I would like to use that money and to buy more rentals which will help with the day to day and the passive side of things and also do 1 or 2 flips a year to help with our living expense. I also have plans of doing some JV with friends and family members. Sorry I forgot to mention this but this is what I plan to do instead of taking the money out and just living on the couch lol

- Kolton 

Hi @Huong Luu

Thank you, We want to keep buying homes and renting them out until I am able to leave my job so I can be home more with my family. She is on Mat leave. If she is able to get the ' Return to Work' Does she actually have to go to work ?

Well I am almost 2 years into the investment lifestyle and I can honestly say this has had its ups and downs,just like anything in life. I purchased my first property at the start of 2018, It was a Duplex in Hamilton Canada. I fixed it up as much as I could and rented both units out. I was thrilled ! I asked my self what next. So I pulled out the money from my first house and Bought my second house In the same city. Only this time what took almost a year last year in renos I hired a company to come in and do the renos from top to bottom. They had the whole house completed in one month ! My mind was blown "like how was that even possible" How was it possible me who started with nothing raised from a low income single mother house to now owning 2 houses and 2 years. During renovations my wife had my baby daughter so we have been super busy to say the least. 

The deal was structured like this. I purchased the house at 315K, I added purchase plus improvements to the deal so my deal was 340K mortgage.  I put $23,000.00 Down as my down payment and I had put $60,000.00 Into renovations. Which was Bathroom , upstairs, fixed all the pluming upgaded the upstairs, Redid the kitchen and main room, added a bathroom in the basement and added a new laundry room. Removed and added a brand new fence. After renovations were complete I called the bank and they sent someone to come look at the house to see if the renos were done. and a week later I received 25K back in my account. I have attached pictures at the bottom as well. 

My next question is what would be the next step? 

Do I refinance again or hold off on refinancing until my wife is back at work ? I would like to start doing more deals faster and faster.

Hi Guys,

I know I have not posted much on here but these 2 years since starting out have been a blur. I am a new ish investor in Ontario Canada. I bought my first duplex in January 2018 and have both units rented out. I have also purchased a single family house the start of June and am going to start reno's in the middle of August. My wife and I are going to live in this house for a year and than move on to something else after the year is up. I have also partnered up with someone and we are in the middle of putting an offer in on another duplex. I never would of thought that I would own 3 doors Potentially 5 doors in the matter of a year and a half. I am looking to build my portfolio enough so my wife and I can travel and have more family time with our son and soon (october) daughter. Last year we took a trip to California and needless to say we fell in love. The scenery, the food, the ocean. . . . Also the FOOTBALL lol 

I guess you can say I am a dreamer, but I am looking to make this dream a reality. I am looking to connect with other investors to share some tips about how we can start the process in building some wealth out there. Also looking to make friends that way once we travel we have some friendly people to go for a coffee with. 

@Joseph Green I have connected with you. It would be awesome to keep in touch.

@Lior Reich

@Lior Reich

@Lior Reich Thank you for taking the time and giving me a few steps that will be able to help me on my RE journey.

To Answer Your Questions: I would like to invest at first, and snowball into a possible residence for my wife and child. The budget would roughly be $150,000 - $300,000.  I would like to start with Single Family and Duplex since I will be in Canada and it would be hard to manage a 4 - 10 Plex being so far away.

I have just finished my first duplex and am in the process of looking for another one here in Ontario Canada. I am currently doing the BRRR strategy and so far it has been good. Just like you mentioned the best learning process is actually doing it. So I was hoping I can gain a few more of these here within the next year or 2 and then branch out to the US.